Mirabella Financial Services LLP Boosts Stake in Alcoa $AA

Mirabella Financial Services LLP grew its stake in shares of Alcoa (NYSE:AA) by 62.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 325,000 shares of the industrial products company’s stock after acquiring an additional 125,000 shares during the quarter. Alcoa accounts for 1.0% of Mirabella Financial Services LLP’s portfolio, making the stock its 22nd largest position. Mirabella Financial Services LLP’s holdings in Alcoa were worth $9,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Alcoa during the second quarter valued at $97,933,000. L1 Capital Pty Ltd purchased a new position in Alcoa in the 1st quarter valued at about $52,675,000. Dimensional Fund Advisors LP boosted its stake in shares of Alcoa by 33.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company’s stock worth $207,490,000 after purchasing an additional 1,721,222 shares during the last quarter. Drummond Knight Asset Management Pty Ltd acquired a new stake in shares of Alcoa during the 2nd quarter worth about $44,893,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Alcoa during the second quarter worth about $44,151,000.

Analysts Set New Price Targets

AA has been the topic of several recent analyst reports. Argus set a $45.00 price objective on shares of Alcoa in a research note on Thursday, October 30th. HSBC boosted their price target on Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a report on Friday, October 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Alcoa in a research note on Monday. B. Riley raised their price objective on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Finally, Morgan Stanley set a $43.50 target price on Alcoa in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.35.

Alcoa Stock Down 0.2%

Shares of NYSE AA opened at $44.02 on Friday. The stock has a market capitalization of $11.40 billion, a PE ratio of 10.17, a P/E/G ratio of 0.23 and a beta of 1.99. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $37.51 and a 200-day moving average of $32.69. Alcoa has a 52-week low of $21.53 and a 52-week high of $46.19.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. On average, analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s payout ratio is currently 9.24%.

Alcoa 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.