XTX Topco Ltd Buys 26,586 Shares of Alcoa Co. (NYSE:AA)

XTX Topco Ltd boosted its stake in Alcoa Co. (NYSE:AA) by 266.3% in the second quarter, HoldingsChannel reports. The firm owned 36,568 shares of the industrial products company’s stock after acquiring an additional 26,586 shares during the period. XTX Topco Ltd’s holdings in Alcoa were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Scarborough Advisors LLC bought a new position in shares of Alcoa in the 4th quarter worth approximately $39,000. Quest Partners LLC bought a new position in Alcoa in the fourth quarter worth approximately $40,000. Quadrant Capital Group LLC boosted its stake in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 576 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares during the period. Finally, Fifth Third Bancorp increased its stake 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 worth $94,000 after purchasing an additional 309 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AA has been the topic of several analyst reports. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research report on Friday. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday. Morgan Stanley reduced their target price on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. UBS Group lifted their price target on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday. Finally, B. Riley increased their price objective on shares of Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday. One equities 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $40.45.

Alcoa Price Performance

Shares of NYSE:AA opened at $33.83 on Friday. The firm has a market cap of $6.07 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. The firm has a fifty day moving average price of $32.61 and a 200 day moving average price of $35.61. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa (NYSE:AA) last released its quarterly earnings data 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. 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 the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm earned ($0.35) EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Alcoa Co. will post 0.7 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, August 12th. Alcoa’s dividend payout ratio is presently -10.64%.

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.