Alcoa $AA Holdings Boosted by Legal & General Group Plc

Legal & General Group Plc increased its holdings in shares of Alcoa (NYSE:AA) by 2.5% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 409,253 shares of the industrial products company’s stock after purchasing an additional 10,016 shares during the quarter. Legal & General Group Plc’s holdings in Alcoa were worth $12,077,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. L1 Capital Pty Ltd acquired a new position in shares of Alcoa in the 1st quarter valued at about $52,675,000. Dimensional Fund Advisors LP boosted its holdings in shares of Alcoa by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company’s stock worth $207,490,000 after purchasing an additional 1,721,222 shares during the period. Assenagon Asset Management S.A. purchased a new position in Alcoa during the second quarter valued at approximately $44,151,000. Nuveen LLC acquired a new position in Alcoa in the 1st quarter valued at approximately $23,339,000. Finally, Deutsche Bank AG lifted its position in Alcoa by 481.2% in the 1st quarter. Deutsche Bank AG now owns 907,117 shares of the industrial products company’s stock worth $27,667,000 after buying an additional 751,053 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on AA. JPMorgan Chase & Co. increased their price objective on Alcoa from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. B. Riley raised their price target on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a report on Tuesday, November 25th. UBS Group boosted their price target on Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Finally, Zacks Research raised shares of Alcoa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.35.

Alcoa Stock Performance

Shares of NYSE AA opened at $42.02 on Monday. The business’s 50-day simple moving average is $36.62 and its 200-day simple moving average is $32.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. Alcoa has a 52 week low of $21.53 and a 52 week high of $46.78. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 0.22 and a beta of 1.99.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue was up 3.1% on a year-over-year basis. As a group, equities research analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Alcoa’s dividend payout ratio (DPR) is presently 9.24%.

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.