Posted by admin on Aug 19th, 2022
Envestnet Asset Management Inc. cut its holdings in Alcoa Co. (NYSE:AA – Get Rating) by 1.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 22,062 shares of the industrial products company’s stock after selling 241 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alcoa were worth $1,986,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC acquired a new position in Alcoa during the 4th quarter worth approximately $30,000. KBC Group NV boosted its position in Alcoa by 12.0% during the 4th quarter. KBC Group NV now owns 6,047 shares of the industrial products company’s stock worth $360,000 after acquiring an additional 649 shares during the last quarter. IndexIQ Advisors LLC boosted its position in Alcoa by 40.0% during the 4th quarter. IndexIQ Advisors LLC now owns 1,169 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 334 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Alcoa by 11.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,591 shares of the industrial products company’s stock worth $512,000 after acquiring an additional 899 shares during the last quarter. Finally, Keybank National Association OH boosted its position in Alcoa by 42.8% during the 4th quarter. Keybank National Association OH now owns 9,214 shares of the industrial products company’s stock worth $549,000 after acquiring an additional 2,761 shares during the last quarter.
AA opened at $53.84 on Friday. Alcoa Co. has a 1-year low of $36.61 and a 1-year high of $98.09. The stock’s fifty day simple moving average is $47.84 and its 200 day simple moving average is $64.85. The company has a current ratio of 1.81, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24. The stock has a market cap of $9.69 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 0.83 and a beta of 2.33.
Alcoa (NYSE:AA – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $3.71 by ($1.04). Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the company posted $1.49 EPS. The firm’s revenue was up 28.6% on a year-over-year basis. As a group, research analysts expect that Alcoa Co. will post 6.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Monday, August 8th. Alcoa’s payout ratio is 7.86%.
A number of equities analysts have weighed in on the company. B. Riley reduced their price target on Alcoa from $84.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 28th. Credit Suisse Group cut their price objective on Alcoa from $82.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. Citigroup downgraded Alcoa from a “buy” rating to a “neutral” rating and set a $84.00 price objective for the company. in a report on Thursday, April 21st. BMO Capital Markets cut their price objective on Alcoa from $57.00 to $55.00 in a report on Thursday, July 21st. Finally, The Goldman Sachs Group cut their price objective on Alcoa from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $78.64.
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 three segments: Bauxite, 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.
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