135,000 Shares in Alcoa $AA Bought by Impala Asset Management LLC

Impala Asset Management LLC acquired a new stake in Alcoa (NYSE:AA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 135,000 shares of the industrial products company’s stock, valued at approximately $7,039,000. Alcoa makes up about 4.0% of Impala Asset Management LLC’s portfolio, making the stock its 8th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC increased its holdings in Alcoa by 3.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 170 shares in the last quarter. Essential Partners LLC boosted its position in shares of Alcoa by 0.9% during the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock worth $1,361,000 after buying an additional 193 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after buying an additional 229 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares in the last quarter. Finally, Himension Capital Singapore PTE. LTD. raised its position in Alcoa by 1.3% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock valued at $1,235,000 after buying an additional 246 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Argus cut their target price on Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, July 22nd. B. Riley Financial reduced their price target on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Zacks Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Wells Fargo & Company lowered their price target on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Alcoa has an average rating of “Hold” and an average target price of $61.09.

Alcoa Stock Up 3.2%

AA stock opened at $51.32 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.56 and a beta of 1.63. The business’s fifty day moving average price is $49.21 and its two-hundred day moving average price is $60.03. Alcoa has a fifty-two week low of $30.21 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the prior year, the business posted $0.39 EPS. On average, equities analysts anticipate that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.8%. Alcoa’s payout ratio is 8.23%.

Alcoa Company 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.