XTX Topco Ltd Increases Stake in Alcoa Co. (NYSE:AA)

XTX Topco Ltd raised its stake in Alcoa Co. (NYSE:AA) by 266.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 36,568 shares of the industrial products company’s stock after purchasing an additional 26,586 shares during the quarter. XTX Topco Ltd’s holdings in Alcoa were worth $1,455,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in shares of Alcoa in the 4th quarter worth approximately $39,000. Quest Partners LLC bought a new stake in Alcoa in the fourth quarter valued at $40,000. Quadrant Capital Group LLC boosted its holdings in Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 576 shares in the last quarter. Toronto Dominion Bank raised its holdings in Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,592 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of Alcoa stock opened at $33.83 on Friday. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $45.48. The firm’s 50-day moving average is $32.61 and its 200 day moving average is $35.61. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Sell-side analysts anticipate that Alcoa Co. will post 0.7 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Monday, August 12th. Alcoa’s payout ratio is -10.64%.

Analyst Upgrades and Downgrades

AA has been the topic of several research analyst reports. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a report on Friday. B. Riley lifted their price target on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group increased their price objective on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Morgan Stanley dropped their target price on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.45.

Alcoa Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.