Posted by admin on Jul 22nd, 2022
Dupont Capital Management Corp bought a new position in shares of Alcoa Co. (NYSE:AA – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 644 shares of the industrial products company’s stock, valued at approximately $58,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC bought a new position in Alcoa during the fourth quarter worth about $30,000. Retirement Group LLC raised its position in shares of Alcoa by 100.0% during the fourth quarter. Retirement Group LLC now owns 500 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 250 shares during the period. Covestor Ltd acquired a new stake in shares of Alcoa during the fourth quarter worth about $58,000. IndexIQ Advisors LLC raised its position in shares of Alcoa by 40.0% during the fourth quarter. IndexIQ Advisors LLC now owns 1,169 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 334 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Alcoa during the first quarter worth about $100,000.
Shares of Alcoa stock opened at $45.15 on Friday. The stock has a market cap of $8.33 billion, a P/E ratio of 11.98, a P/E/G ratio of 0.77 and a beta of 2.39. The company has a quick ratio of 0.90, a current ratio of 1.62 and a debt-to-equity ratio of 0.28. Alcoa Co. has a 12-month low of $36.10 and a 12-month high of $98.09. The business’s 50 day moving average is $52.66 and its 200-day moving average is $66.23.
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 (EPS) for the quarter, missing the consensus estimate of $3.71 by ($1.04). Alcoa had a return on equity of 29.44% and a net margin of 5.75%. The firm had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period last year, the company posted $1.49 earnings per share. The business’s revenue was up 28.6% compared to the same quarter last year. Equities research analysts predict that Alcoa Co. will post 7.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Tuesday, May 17th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, May 16th. Alcoa’s dividend payout ratio (DPR) is presently 10.61%.
AA has been the topic of a number of research analyst reports. Morgan Stanley reaffirmed an “equal weight” rating on shares of Alcoa in a research report on Thursday, June 23rd. The Goldman Sachs Group dropped their price target on Alcoa from $104.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Wolfe Research reaffirmed a “buy” rating and set a $105.00 price target on shares of Alcoa in a research report on Friday, March 25th. Citigroup lowered Alcoa from a “buy” rating to a “neutral” rating and set a $84.00 target price on the stock. in a research report on Thursday, April 21st. Finally, StockNews.com lowered Alcoa from a “buy” rating to a “hold” rating in a research report on Friday, March 25th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Alcoa currently has an average rating of “Hold” and a consensus target price of $79.91.
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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