Lighthouse Investment Partners LLC Acquires New Position in Alcoa $AA

Lighthouse Investment Partners LLC acquired a new stake in shares of Alcoa (NYSE:AA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 170,458 shares of the industrial products company’s stock, valued at approximately $5,606,000. Lighthouse Investment Partners LLC owned approximately 0.07% of Alcoa as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. NewEdge Advisors LLC raised its position in shares of Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alcoa by 0.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after purchasing an additional 4,624 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Alcoa by 29.0% in the second quarter. Envestnet Asset Management Inc. now owns 17,487 shares of the industrial products company’s stock worth $516,000 after purchasing an additional 3,926 shares during the period. Savant Capital LLC increased its stake in Alcoa by 7.2% during the second quarter. Savant Capital LLC now owns 8,711 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 582 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in Alcoa during the second quarter valued at $270,000.

Alcoa Stock Up 4.8%

AA stock opened at $66.67 on Tuesday. The firm’s 50-day moving average is $61.64 and its two-hundred day moving average is $47.24. The company has a market capitalization of $17.59 billion, a price-to-earnings ratio of 15.08 and a beta of 1.85. Alcoa has a 52 week low of $21.53 and a 52 week high of $68.40. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm posted $1.04 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. On average, analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on AA shares. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a research report on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Morgan Stanley reissued an “overweight” rating and issued a $52.00 target price on shares of Alcoa in a report on Monday, December 15th. Finally, Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $50.45.

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.