Globeflex Capital L P Purchases Shares of 104,058 Alcoa $AA

Globeflex Capital L P acquired a new stake in Alcoa (NYSE:AA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 104,058 shares of the industrial products company’s stock, valued at approximately $6,902,000. Alcoa accounts for about 1.0% of Globeflex Capital L P’s holdings, making the stock its 20th biggest position.

Several other large investors have also bought and sold shares of AA. Basepoint Wealth LLC bought a new stake in Alcoa in the fourth quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in Alcoa in the 3rd quarter valued at about $27,000. Raleigh Capital Management Inc. boosted its position in shares of Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the last quarter.

Alcoa Stock Performance

Alcoa stock opened at $46.22 on Thursday. The firm’s 50 day simple moving average is $60.35 and its 200-day simple moving average is $62.33. The company has a market cap of $12.20 billion, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 0.49 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the company posted $0.39 EPS. As a group, equities research analysts predict that Alcoa will post 6.72 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Alcoa’s dividend payout ratio is presently 8.23%.

Analyst Ratings Changes

AA has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Zacks Research cut Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. cut their price objective on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. BMO Capital Markets reduced their price objective on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, July 17th. Finally, Bank of America decreased their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Alcoa currently has an average rating of “Hold” and an average price target of $61.09.

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.