William B. Walkup & Associates Inc. Buys New Holdings in Alcoa Co. (NYSE:AA)

William B. Walkup & Associates Inc. purchased a new stake in Alcoa Co. (NYSE:AA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,563 shares of the industrial products company’s stock, valued at approximately $102,000.

A number of other hedge funds also recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd acquired a new stake in Alcoa in the 2nd quarter valued at $93,061,000. L1 Capital Pty Ltd acquired a new stake in shares of Alcoa in the 1st quarter valued at $72,658,000. Marshall Wace LLP grew its holdings in shares of Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after purchasing an additional 1,259,430 shares during the last quarter. ARGA Investment Management LP increased its position in shares of Alcoa by 202.2% during the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Alcoa by 29.8% during the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after purchasing an additional 475,000 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of Alcoa stock opened at $39.27 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of -10.44 and a beta of 2.42. The stock’s 50-day moving average is $32.51 and its 200-day moving average is $36.01. Alcoa Co. has a one year low of $23.07 and a one year high of $45.48.

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 firm had revenue of $2.91 billion for 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 business posted ($0.35) EPS. Equities analysts predict that Alcoa Co. will post 0.56 earnings per share for the current fiscal year.

Alcoa Announces Dividend

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

Analyst Ratings Changes

AA has been the topic of a number of recent analyst reports. B. Riley boosted their price objective on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Bank of America lowered their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. JPMorgan Chase & Co. assumed coverage on shares of Alcoa in a research report on Wednesday, September 25th. They set a “neutral” rating and a $36.00 target price on the stock. Finally, StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $40.82.

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.