Quantbot Technologies LP Has $12.99 Million Holdings in Alcoa $AA

Quantbot Technologies LP grew its holdings in shares of Alcoa (NYSE:AA) by 41.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 425,835 shares of the industrial products company’s stock after purchasing an additional 123,765 shares during the period. Quantbot Technologies LP owned about 0.16% of Alcoa worth $12,988,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AA. Algert Global LLC lifted its holdings in shares of Alcoa by 68.8% during the 1st quarter. Algert Global LLC now owns 263,410 shares of the industrial products company’s stock worth $8,034,000 after acquiring an additional 107,353 shares during the period. Corient IA LLC bought a new stake in shares of Alcoa during the 1st quarter worth approximately $261,000. Tejara Capital Ltd bought a new stake in shares of Alcoa during the 1st quarter worth approximately $1,693,000. Dimensional Fund Advisors LP lifted its holdings 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 acquiring an additional 1,721,222 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Alcoa by 5.3% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 81,772 shares of the industrial products company’s stock worth $2,494,000 after acquiring an additional 4,134 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AA shares. Bank of America increased their target price on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, July 17th. Barclays increased their price objective on shares of Alcoa to $31.00 and gave the company a “hold” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Citigroup raised shares of Alcoa to a “buy” rating and set a $42.00 price objective for the company in a research note on Tuesday, July 8th. Finally, Morgan Stanley dropped their price objective on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.23.

Alcoa Price Performance

AA stock opened at $31.21 on Monday. The company has a fifty day moving average price of $29.90 and a 200-day moving average price of $29.89. The company has a market capitalization of $8.08 billion, a P/E ratio of 8.15, a PEG ratio of 0.18 and a beta of 2.24. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. As a group, equities analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 12th. Alcoa’s dividend payout ratio is currently 10.44%.

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.