Permanens Capital L.P. Makes New $669,000 Investment in Alcoa $AA

Permanens Capital L.P. purchased a new position in Alcoa (NYSE:AA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,832 shares of the industrial products company’s stock, valued at approximately $669,000.

Several other large investors also recently modified their holdings of AA. Basepoint Wealth LLC acquired a new position in Alcoa in the fourth quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Alcoa during the second quarter valued at $25,000. Advisory Services Network LLC acquired a new stake in Alcoa during the 3rd quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its holdings in Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 581 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Alcoa in the 1st quarter worth about $35,000.

Alcoa Price Performance

AA stock opened at $49.72 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The company’s 50-day moving average is $49.37 and its 200-day moving average is $60.09. The stock has a market capitalization of $13.12 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 0.58 and a beta of 1.63. Alcoa has a 1 year low of $30.21 and a 1 year high of $84.38.

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

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) is 8.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AA shares. Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. JPMorgan Chase & Co. lowered their target price on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, July 17th. UBS Group dropped their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Bank of America cut their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, July 9th. Finally, B. Riley Financial reduced their price objective 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 investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.09.

Alcoa Profile

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.