Mirabella Financial Services LLP Raises Stake in Alcoa $AA

Mirabella Financial Services LLP increased its holdings in shares of Alcoa (NYSE:AA) by 25.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,715 shares of the industrial products company’s stock after acquiring an additional 81,715 shares during the period. Alcoa makes up 1.1% of Mirabella Financial Services LLP’s investment portfolio, making the stock its 15th largest holding. Mirabella Financial Services LLP owned about 0.16% of Alcoa worth $13,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisory Services Network LLC purchased a new position in shares of Alcoa during the third quarter valued at approximately $27,000. Root Financial Partners LLC purchased a new stake in shares of Alcoa in the 3rd quarter worth approximately $29,000. Orion Capital Management LLC bought a new position in Alcoa during the 3rd quarter valued at approximately $33,000. Westfuller Advisors LLC bought a new position in Alcoa during the 3rd quarter valued at approximately $35,000. Finally, NewEdge Advisors LLC raised its stake in Alcoa by 91.9% during the third quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock valued at $38,000 after buying an additional 556 shares during the last quarter.

Alcoa Stock Down 1.7%

Alcoa stock opened at $64.29 on Thursday. The firm has a market cap of $16.96 billion, a price-to-earnings ratio of 14.54 and a beta of 1.85. 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 has a 12 month low of $21.53 and a 12 month high of $68.40. The stock has a fifty day simple moving average of $61.71 and a two-hundred day simple moving average of $47.59.

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

Alcoa Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JPMorgan Chase & Co. raised Alcoa from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $50.00 to $68.00 in a report on Friday, March 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a research note on Thursday, March 12th. Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, UBS Group raised their price objective on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Four equities research 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’s stock. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and a consensus target price 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.