Ensign Peak Advisors Inc Grows Stake in Alcoa Co. (NYSE:AA)

Ensign Peak Advisors Inc raised its holdings in shares of Alcoa Co. (NYSE:AA) by 13.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,045 shares of the industrial products company’s stock after purchasing an additional 8,100 shares during the period. Ensign Peak Advisors Inc’s holdings in Alcoa were worth $2,786,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its position in shares of Alcoa by 6.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after purchasing an additional 390,930 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa during the 2nd quarter valued at approximately $93,061,000. L1 Capital Pty Ltd purchased a new position in shares of Alcoa in the first quarter worth $72,658,000. Capital Research Global Investors raised its holdings in shares of Alcoa by 29.8% in the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after buying an additional 475,000 shares during the last quarter. Finally, ARGA Investment Management LP lifted its stake in shares of Alcoa by 202.2% during the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after buying an additional 997,912 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Trading Down 0.1 %

Shares of Alcoa stock opened at $39.26 on Friday. The firm has a 50-day simple moving average of $32.51 and a two-hundred day simple moving average of $35.93. 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 Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The company has a market cap of $7.05 billion, a P/E ratio of -10.44 and a beta of 2.42.

Alcoa (NYSE:AA) last released 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. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the prior year, the firm posted ($0.35) EPS. Alcoa’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Alcoa Co. will post 0.56 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.02%. Alcoa’s dividend payout ratio is currently -10.64%.

Analysts Set New Price Targets

AA has been the subject of a number of research analyst reports. UBS Group raised their target price on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. started coverage on shares of Alcoa in a report on Wednesday. They issued a “neutral” rating and a $36.00 price target on the stock. B. Riley Financial restated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Finally, Morgan Stanley cut their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. 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 stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.82.

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.