Advisors Preferred LLC Purchases Shares of 12,072 Alcoa $AA

Advisors Preferred LLC purchased a new stake in Alcoa (NYSE:AA) during the 2nd quarter, Holdings Channel reports. The firm purchased 12,072 shares of the industrial products company’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AA. IFP Advisors Inc increased its stake in Alcoa by 1,096.0% in the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after buying an additional 822 shares during the last quarter. Montag A & Associates Inc. acquired a new stake in Alcoa in the 1st quarter valued at $40,000. Quarry LP acquired a new stake in Alcoa in the 1st quarter valued at $57,000. GAMMA Investing LLC increased its stake in Alcoa by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock valued at $70,000 after buying an additional 851 shares during the last quarter. Finally, Banque Transatlantique SA acquired a new stake in Alcoa in the 1st quarter valued at $74,000.

Analysts Set New Price Targets

AA has been the topic of several recent research reports. B. Riley lifted their price target on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Bank of America boosted their price objective on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, July 17th. Weiss Ratings upgraded shares of Alcoa from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. UBS Group boosted their price objective on shares of Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Finally, Citigroup upgraded shares of Alcoa to a “buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, July 8th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Alcoa has an average rating of “Hold” and a consensus target price of $42.35.

Alcoa Stock Up 1.0%

Shares of AA opened at $37.14 on Tuesday. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The firm has a market cap of $9.62 billion, a P/E ratio of 8.58, a price-to-earnings-growth ratio of 0.21 and a beta of 2.26. The firm’s 50-day simple moving average is $34.39 and its 200 day simple moving average is $30.70. 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 (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the business earned $0.57 EPS. Alcoa’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Tuesday, November 4th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. Alcoa’s dividend payout ratio is 9.24%.

About Alcoa

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.