Alcoa $AA Position Raised by Holocene Advisors LP

Holocene Advisors LP boosted its position in Alcoa (NYSE:AA) by 40.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,023,813 shares of the industrial products company’s stock after purchasing an additional 295,482 shares during the period. Holocene Advisors LP owned approximately 0.40% of Alcoa worth $33,673,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AA. Root Financial Partners LLC acquired a new stake in shares of Alcoa in the third quarter valued at $29,000. Orion Capital Management LLC acquired a new position in Alcoa during the third quarter worth about $33,000. Westfuller Advisors LLC acquired a new position in Alcoa during the third quarter worth about $35,000. Huntington National Bank raised its position in Alcoa by 167.9% in the third quarter. Huntington National Bank now owns 1,259 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 789 shares in the last quarter. Finally, Heartwood Wealth Advisors LLC bought a new stake in Alcoa in the third quarter worth about $53,000.

Alcoa Price Performance

NYSE AA opened at $66.67 on Tuesday. The stock’s 50-day moving average price is $61.64 and its two-hundred day moving average price is $47.24. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The company has a market cap of $17.59 billion, a PE ratio of 15.08 and a beta of 1.85. Alcoa has a 1 year low of $21.53 and a 1 year high of $68.40.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 9.05%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AA shares. B. Riley Financial restated a “buy” rating on shares of Alcoa in a research report on Friday, January 23rd. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Citigroup increased their target price on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday. UBS Group raised their target price on shares of Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Alcoa currently has an average rating of “Hold” and an average price target of $50.45.

Alcoa Company 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.