Alcoa $AA is L1 Capital Pty Ltd’s 9th Largest Position

L1 Capital Pty Ltd decreased its position in Alcoa (NYSE:AA) by 73.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,545,476 shares of the industrial products company’s stock after selling 4,342,223 shares during the period. Alcoa accounts for approximately 4.3% of L1 Capital Pty Ltd’s investment portfolio, making the stock its 9th largest position. L1 Capital Pty Ltd’s holdings in Alcoa were worth $82,127,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AA. NewEdge Advisors LLC grew its stake in shares of Alcoa by 1,098.0% in the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after buying an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Alcoa by 0.7% in the 1st 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 valued at $19,722,000 after buying an additional 4,624 shares during the period. Invesco Ltd. boosted its position in shares of Alcoa by 1.9% during the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after purchasing an additional 12,008 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Alcoa by 173.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares during the period. Finally, First Trust Advisors LP boosted its position in shares of Alcoa by 320.1% during the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 205,717 shares during the period.

Alcoa Stock Performance

NYSE:AA opened at $68.69 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The stock has a market capitalization of $18.13 billion, a P/E ratio of 17.39 and a beta of 1.56. The company has a 50 day moving average price of $69.43 and a 200 day moving average price of $61.33. Alcoa has a fifty-two week low of $27.72 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the business earned $2.15 EPS. The business’s quarterly revenue was down 5.2% on a year-over-year basis. Equities research analysts forecast that Alcoa will post 7.89 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a research report on Thursday, March 12th. BMO Capital Markets increased their price objective on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Morgan Stanley set a $79.00 price objective on shares of Alcoa in a research report on Thursday. Weiss Ratings cut shares of Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 1st. Finally, Argus set a $73.00 price objective on shares of Alcoa in a research report on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Alcoa has an average rating of “Hold” and a consensus target price of $68.50.

About Alcoa

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.