Fifth Third Bancorp Raises Position in Alcoa Co. (NYSE:AA)

Fifth Third Bancorp raised its holdings in shares of Alcoa Co. (NYSE:AA) by 15.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,353 shares of the industrial products company’s stock after acquiring an additional 309 shares during the quarter. Fifth Third Bancorp’s holdings in Alcoa were worth $94,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Douglas Lane & Associates LLC boosted its stake in shares of Alcoa by 12.9% during the 1st quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock worth $45,675,000 after acquiring an additional 154,403 shares during the last quarter. ARGA Investment Management LP raised its position in shares of Alcoa by 202.2% during the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after purchasing an additional 997,912 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Alcoa during the 1st quarter valued at $593,000. Cloverfields Capital Group LP bought a new stake in shares of Alcoa during the 4th quarter valued at $865,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of Alcoa during the 2nd quarter valued at $706,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Alcoa stock opened at $33.92 on Monday. The company’s 50-day moving average price is $35.65 and its 200-day moving average price is $35.08. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The company has a market cap of $6.09 billion, a PE ratio of -9.02 and a beta of 2.45.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm posted ($0.35) EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Alcoa Co. will post 0.7 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.18%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Analysts Set New Price Targets

AA has been the topic of several recent analyst reports. Bank of America decreased their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. UBS Group upgraded shares of Alcoa from a “sell” rating to a “buy” rating and raised their price objective for the company from $32.00 to $38.00 in a research report on Monday, August 12th. Wolfe Research upgraded shares of Alcoa from an “underperform” rating to a “peer perform” rating in a report on Friday, August 2nd. Citigroup lifted their price target on shares of Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.40.

Alcoa Profile

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.