Lombard Odier Asset Management Europe Ltd Buys 42,979 Shares of Alcoa $AA

Lombard Odier Asset Management Europe Ltd lifted its stake in shares of Alcoa (NYSE:AA) by 90.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,258 shares of the industrial products company’s stock after buying an additional 42,979 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Alcoa were worth $5,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of AA. NewEdge Advisors LLC grew its holdings in shares of Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 purchasing an additional 4,624 shares during the period. Invesco Ltd. lifted its stake in shares of Alcoa by 1.9% in the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $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 second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Alcoa by 320.1% in the second 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.

Analyst Ratings Changes

Several brokerages have commented on AA. Argus lowered their price objective on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Bank of America decreased their price target on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, July 9th. JPMorgan Chase & Co. lowered their price target on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Wells Fargo & Company dropped their price objective on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday, July 17th. Finally, UBS Group cut their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.09.

Alcoa Stock Up 0.1%

NYSE:AA opened at $45.31 on Monday. The firm has a market cap of $11.96 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.51 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The firm has a 50-day simple moving average of $57.44 and a two-hundred day simple moving average of $61.46.

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

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.9%. Alcoa’s dividend payout ratio is 8.23%.

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.