Impala Asset Management LLC Purchases New Position in Alcoa $AA

Impala Asset Management LLC purchased a new position in shares of Alcoa (NYSE:AA) in the 1st quarter, Holdings Channel reports. The firm purchased 130,000 shares of the industrial products company’s stock, valued at approximately $8,623,000. Alcoa makes up approximately 4.0% of Impala Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding.

A number of other large investors also recently modified their holdings of AA. Himension Capital Singapore PTE. LTD. raised its holdings in Alcoa by 1.3% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 246 shares during the last quarter. XY Capital Ltd bought a new stake in Alcoa during the 1st quarter worth approximately $1,662,000. Temasek Holdings Private Ltd grew its holdings in Alcoa by 21.1% during the 1st quarter. Temasek Holdings Private Ltd now owns 1,300,647 shares of the industrial products company’s stock worth $86,272,000 after acquiring an additional 226,253 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Alcoa in the 1st quarter valued at approximately $2,358,000. Finally, Convergence Investment Partners LLC increased its position in Alcoa by 6.7% in the 1st quarter. Convergence Investment Partners LLC now owns 27,719 shares of the industrial products company’s stock valued at $1,839,000 after acquiring an additional 1,750 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AA. UBS Group cut their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. JPMorgan Chase & Co. reduced their price objective on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. B. Riley Financial decreased their price objective on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. BMO Capital Markets lowered their target price on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 17th. Finally, Zacks Research downgraded Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. 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. According to data from MarketBeat, Alcoa has a consensus rating of “Hold” and an average price target of $61.09.

Alcoa Stock Performance

NYSE:AA opened at $46.22 on Thursday. The company has a market capitalization of $12.20 billion, a PE ratio of 9.51, a P/E/G ratio of 0.49 and a beta of 1.63. The company has a 50 day simple moving average of $60.35 and a two-hundred day simple moving average of $62.33. 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 fifty-two week low of $28.11 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the previous year, the business posted $0.39 EPS. Research analysts anticipate that Alcoa will post 6.72 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Alcoa’s dividend payout ratio is 8.23%.

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.