Machina Capital S.A.S. Buys Shares of 7,029 Alcoa $AA

Machina Capital S.A.S. purchased a new stake in Alcoa (NYSE:AA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,029 shares of the industrial products company’s stock, valued at approximately $207,000.

A number of other large investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Alcoa by 5.6% during the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock worth $2,367,000 after purchasing an additional 4,255 shares during the last quarter. Strs Ohio bought a new stake in shares of Alcoa during the first quarter worth about $841,000. GAMMA Investing LLC grew its holdings in shares of Alcoa by 58.8% during the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 851 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Alcoa by 4.3% during the first quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company’s stock worth $35,895,000 after purchasing an additional 48,604 shares during the last quarter. Finally, Nordea Investment Management AB bought a new stake in shares of Alcoa during the second quarter worth about $1,433,000.

Alcoa Stock Performance

Shares of Alcoa stock opened at $35.25 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $34.46 and a two-hundred day moving average price of $30.78. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The company has a market cap of $9.13 billion, a P/E ratio of 8.14, a PEG ratio of 0.22 and a beta of 2.26.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the business posted $0.57 EPS. The business’s revenue was up 3.1% compared to the same quarter last year. As a group, analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AA. Morgan Stanley set a $43.50 price target on Alcoa in a report on Friday, October 24th. Wells Fargo & Company began coverage on Alcoa in a report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 price target on the stock. Argus set a $45.00 price target on Alcoa in a report on Thursday, October 30th. Bank of America boosted their price target on Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, July 17th. Finally, Citigroup upgraded Alcoa to a “buy” rating and set a $42.00 price target on the stock in a report 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.35.

Alcoa Company Profile

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.