Intech Investment Management LLC Invests $1.22 Million in Alcoa Co. (NYSE:AA)

Intech Investment Management LLC bought a new position in Alcoa Co. (NYSE:AA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 30,650 shares of the industrial products company’s stock, valued at approximately $1,219,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. XTX Topco Ltd boosted its position in Alcoa by 266.3% in the second quarter. XTX Topco Ltd now owns 36,568 shares of the industrial products company’s stock valued at $1,455,000 after buying an additional 26,586 shares during the last quarter. Thomist Capital Management LP purchased a new position in shares of Alcoa during the 2nd quarter valued at about $2,697,000. Hsbc Holdings PLC lifted its holdings in shares of Alcoa by 223.1% in the 2nd quarter. Hsbc Holdings PLC now owns 227,034 shares of the industrial products company’s stock valued at $8,980,000 after buying an additional 156,770 shares during the period. Blair William & Co. IL boosted its stake in shares of Alcoa by 836.6% in the second quarter. Blair William & Co. IL now owns 57,630 shares of the industrial products company’s stock worth $2,293,000 after buying an additional 51,477 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Alcoa by 17.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 27,426 shares of the industrial products company’s stock worth $1,090,000 after acquiring an additional 4,102 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. UBS Group upped their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley dropped their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, B. Riley upped their price target on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.45.

Alcoa Stock Up 7.4 %

NYSE AA opened at $36.78 on Wednesday. The business has a fifty day moving average price of $32.37 and a 200 day moving average price of $35.85. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The company has a market cap of $6.60 billion, a P/E ratio of -9.78 and a beta of 2.42. Alcoa Co. has a one year low of $23.07 and a one year high of $45.48.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating 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 business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the business earned ($0.35) earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Alcoa Co. will post 0.7 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were given a $0.10 dividend. The ex-dividend date was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.09%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

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.