Alcoa Co. (NYSE:AA) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its position in shares of Alcoa Co. (NYSE:AA) by 389.0% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,903 shares of the industrial products company’s stock after buying an additional 57,995 shares during the quarter. Federated Hermes Inc.’s holdings in Alcoa were worth $2,900,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in shares of Alcoa by 15.1% in 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 period. Diversified Trust Co boosted its stake in Alcoa by 5.7% in the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 416 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Alcoa by 56.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 576 shares during the last quarter. CWM LLC raised its position in shares of Alcoa by 19.5% during the 2nd quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 596 shares during the period. Finally, New York State Teachers Retirement System lifted its holdings in shares of Alcoa by 0.4% in the 1st quarter. New York State Teachers Retirement System now owns 153,900 shares of the industrial products company’s stock worth $5,200,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Trading Up 1.7 %

Shares of Alcoa stock opened at $34.92 on Friday. 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 business has a fifty day simple moving average of $32.70 and a 200-day simple moving average of $35.61. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of -9.29 and a beta of 2.42.

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

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s payout ratio is -10.64%.

Wall Street Analyst Weigh In

AA has been the topic of several analyst reports. 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. Bank of America cut 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. B. Riley Financial restated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. Finally, B. Riley increased their price objective on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.