Great Lakes Advisors LLC Makes New $2.18 Million Investment in Alcoa $AA

Great Lakes Advisors LLC bought a new position in shares of Alcoa (NYSE:AA) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 41,864 shares of the industrial products company’s stock, valued at approximately $2,183,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Avaii Wealth Management LLC bought a new position in shares of Alcoa during the 2nd quarter worth about $216,000. Danske Bank A S acquired a new stake in Alcoa during the second quarter worth about $3,472,000. Meeder Asset Management Inc. bought a new position in Alcoa during the second quarter valued at about $1,696,000. Citizens Financial Group Inc. RI acquired a new position in Alcoa in the 2nd quarter valued at approximately $435,000. Finally, Aegis Wealth Management LLC bought a new stake in shares of Alcoa in the 2nd quarter worth approximately $521,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research lowered Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Wells Fargo & Company lowered their price target on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Bank of America reduced their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, July 9th. UBS Group lowered their target price on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, B. Riley Financial dropped their price target on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Alcoa presently has an average rating of “Hold” and a consensus target price of $61.09.

Alcoa Stock Up 2.5%

Shares of NYSE:AA opened at $51.83 on Friday. The company’s fifty day moving average is $50.14 and its 200-day moving average is $60.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a 52 week low of $29.49 and a 52 week high of $84.38. The company has a market capitalization of $13.68 billion, a PE ratio of 10.66, a P/E/G ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the business earned $0.39 EPS. Equities research analysts predict that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, August 11th. Alcoa’s dividend payout ratio is presently 8.23%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.