Alcoa $AA Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP grew its stake in shares of Alcoa (NYSE:AA) by 25.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,265 shares of the industrial products company’s stock after purchasing an additional 11,859 shares during the period. Quantinno Capital Management LP’s holdings in Alcoa were worth $3,931,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Checchi Capital Advisers LLC boosted its stake in Alcoa by 3.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 170 shares during the period. Prime Capital Investment Advisors LLC boosted its position in Alcoa by 1.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock valued at $568,000 after purchasing an additional 204 shares during the period. Northwestern Mutual Investment Management Company LLC grew its stake in Alcoa by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after buying an additional 229 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Alcoa by 1.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares during the period. Finally, Himension Capital Singapore PTE. LTD. increased its position in Alcoa by 1.3% in the first quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock worth $1,235,000 after buying an additional 246 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on AA. Zacks Research downgraded shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. UBS Group dropped their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, BMO Capital Markets cut their price objective on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.09.

Alcoa Stock Performance

Shares of NYSE AA opened at $50.18 on Friday. The stock’s fifty day simple moving average is $54.73 and its 200 day simple moving average is $60.92. The stock has a market capitalization of $13.24 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 0.54 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. Alcoa has a 52-week low of $28.92 and a 52-week high of $84.38.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the company earned $0.39 earnings per share. As a group, sell-side analysts forecast that Alcoa will post 6.55 earnings per share 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Alcoa’s dividend payout ratio is currently 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.