1,060,767 Shares in Alcoa $AA Acquired by Deutsche Bank AG

Deutsche Bank AG purchased a new position in Alcoa (NYSE:AA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,060,767 shares of the industrial products company’s stock, valued at approximately $55,308,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Basepoint Wealth LLC bought a new stake in shares of Alcoa during the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Alcoa during the second quarter worth $25,000. Advisory Services Network LLC bought a new position in shares of Alcoa during the third quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its stake in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 581 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in Alcoa during the first quarter valued at $35,000.

Alcoa Price Performance

Alcoa stock opened at $50.65 on Friday. Alcoa has a 52-week low of $28.92 and a 52-week high of $84.38. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $50.48 and its 200 day moving average is $60.31. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 0.58 and a beta of 1.63.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the business earned $0.39 earnings per share. Sell-side analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on AA shares. BMO Capital Markets decreased their price target on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, July 17th. Argus cut 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. Royal Bank Of Canada set a $70.00 target price on Alcoa in a report on Wednesday, July 1st. B. Riley Financial decreased their target price on Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. dropped their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Six equities research 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, Alcoa presently has an average rating of “Hold” and an average target price 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.