25,113 Shares in Alcoa $AA Acquired by Global Retirement Partners LLC

Global Retirement Partners LLC acquired a new stake in Alcoa (NYSE:AA) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 25,113 shares of the industrial products company’s stock, valued at approximately $1,309,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AA. Basepoint Wealth LLC acquired a new stake in Alcoa during the 4th quarter worth $25,000. Western Wealth Management LLC acquired a new position in shares of Alcoa in the 1st quarter valued at $35,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the last quarter. Quarry LP boosted its position in shares of Alcoa by 96.0% in the 4th quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 340 shares during the last quarter. Finally, Clearstead Trust LLC grew its stake in shares of Alcoa by 431.7% during the fourth quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 613 shares during the period.

Alcoa Price Performance

AA stock opened at $51.81 on Tuesday. The stock has a 50-day moving average price of $51.58 and a two-hundred day moving average price of $60.49. The stock has a market cap of $13.67 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 0.57 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Alcoa has a 1 year low of $28.92 and a 1 year high of $84.38.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period in the prior year, the business earned $0.39 EPS. Equities analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

Analysts Set New Price Targets

AA has been the subject of a number of recent analyst reports. Argus dropped their price objective on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Royal Bank Of Canada set a $70.00 target price on Alcoa in a research report on Wednesday, July 1st. JPMorgan Chase & Co. lowered their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Bank of America cut their price target on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research report on Thursday, July 9th. Finally, Wells Fargo & Company reduced their price objective on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $61.09.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.