Alcoa Co. (NYSE:AA) Shares Bought by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd boosted its holdings in Alcoa Co. (NYSE:AA) by 371.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 110,673 shares of the industrial products company’s stock after purchasing an additional 87,222 shares during the period. Lombard Odier Asset Management Europe Ltd’s holdings in Alcoa were worth $4,403,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp boosted its stake in shares of Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after buying an additional 309 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Alcoa by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock valued at $1,073,000 after acquiring an additional 368 shares during the last quarter. Diversified Trust Co grew its holdings in Alcoa by 5.7% during the 1st quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 416 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Alcoa by 56.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Alcoa by 19.5% in the 2nd quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock valued at $145,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of AA opened at $33.83 on Monday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. Alcoa Co. has a 12 month low of $23.07 and a 12 month high of $45.48. The company’s fifty day moving average is $32.51 and its 200-day moving average is $35.77. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.

Alcoa (NYSE:AA) last announced its quarterly 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. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. Equities analysts expect that Alcoa Co. will post 0.7 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.18%. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Analyst Upgrades and Downgrades

AA has been the subject of a number of research reports. Morgan Stanley decreased their price target on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Bank of America decreased their target price on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. B. Riley upped their price target on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. B. Riley Financial reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. Finally, Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $40.45.

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.