Alcoa $AA Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of Alcoa (NYSE:AA) by 350.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 130,555 shares of the industrial products company’s stock after acquiring an additional 101,600 shares during the period. SG Americas Securities LLC’s holdings in Alcoa were worth $3,853,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in AA. Public Employees Retirement System of Ohio increased its holdings in Alcoa by 5.6% in the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock valued at $2,367,000 after buying an additional 4,255 shares in the last quarter. Strs Ohio purchased a new stake in shares of Alcoa during the 1st quarter worth approximately $841,000. Voya Investment Management LLC boosted its stake in shares of Alcoa by 4.3% during the 1st quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company’s stock worth $35,895,000 after acquiring an additional 48,604 shares in the last quarter. Nordea Investment Management AB acquired a new stake in shares of Alcoa in the 2nd quarter worth approximately $1,433,000. Finally, Penserra Capital Management LLC purchased a new position in Alcoa in the 2nd quarter valued at approximately $834,000.

Alcoa Trading Up 2.1%

Shares of AA stock opened at $36.52 on Wednesday. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 0.20 and a beta of 2.26. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $35.61 and a 200 day moving average price of $31.65. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. Research analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.40 annualized dividend and a yield of 1.1%. Alcoa’s payout ratio is 9.24%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AA. B. Riley boosted their target price on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, September 23rd. Morgan Stanley set a $43.50 price target on Alcoa in a research note on Friday, October 24th. Argus set a $45.00 price objective on shares of Alcoa in a research note on Thursday, October 30th. UBS Group raised their target price on shares of Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Finally, BMO Capital Markets upped their price target on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, October 23rd. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.35.

About Alcoa

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.