Pallas Capital Advisors LLC Invests $955,000 in Alcoa $AA

Pallas Capital Advisors LLC acquired a new position in shares of Alcoa (NYSE:AA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 18,307 shares of the industrial products company’s stock, valued at approximately $955,000.

A number of other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC grew its stake in Alcoa by 3.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock valued at $341,000 after purchasing an additional 170 shares in the last quarter. Essential Partners LLC raised its stake in shares of Alcoa by 0.9% during the 1st quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock worth $1,361,000 after purchasing an additional 193 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its stake in shares of Alcoa by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after purchasing an additional 229 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Alcoa by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock valued at $722,000 after buying an additional 241 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. lifted its holdings in shares of Alcoa by 1.3% during 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. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Performance

AA opened at $49.99 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The company has a market cap of $13.19 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.57 and a beta of 1.63. The stock has a 50-day moving average of $51.13 and a 200-day moving average of $60.42. Alcoa has a 52-week low of $28.92 and a 52-week high of $84.38.

Alcoa (NYSE:AA) last issued its quarterly earnings data 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). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The company had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, equities research analysts forecast that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) is 8.23%.

Wall Street Analyst Weigh In

AA has been the topic of a number of research reports. Wells Fargo & Company dropped their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. B. Riley Financial reduced their target price on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. BMO Capital Markets decreased their target price on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 17th. Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a research note on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Alcoa currently has an average rating of “Hold” and a consensus price target of $61.09.

Alcoa 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.