Global Alpha Capital Management Ltd. Has $56.03 Million Position in Alcoa $AA

Global Alpha Capital Management Ltd. decreased its position in shares of Alcoa (NYSE:AA) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,054,451 shares of the industrial products company’s stock after selling 242,520 shares during the quarter. Alcoa accounts for approximately 3.4% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its 5th largest position. Global Alpha Capital Management Ltd. owned 0.41% of Alcoa worth $56,034,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AA. Mirabella Financial Services LLP lifted its holdings in shares of Alcoa by 12,233.1% in the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock worth $1,318,312,000 after acquiring an additional 39,757,462 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Alcoa by 211.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock worth $332,338,000 after acquiring an additional 4,247,559 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Alcoa by 13.5% in the third quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company’s stock worth $365,710,000 after acquiring an additional 1,322,540 shares during the last quarter. Norges Bank bought a new position in shares of Alcoa in the fourth quarter worth about $67,582,000. Finally, Man Group plc increased its stake in shares of Alcoa by 12,588.2% in the third quarter. Man Group plc now owns 1,164,902 shares of the industrial products company’s stock valued at $38,314,000 after buying an additional 1,155,721 shares during the period.

Alcoa Stock Performance

Shares of AA stock opened at $71.81 on Friday. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 18.18 and a beta of 1.56. Alcoa has a 52 week low of $27.72 and a 52 week high of $84.38. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $68.79 and a 200-day moving average of $60.16.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $2.15 EPS. On average, equities analysts forecast that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup upped their price objective on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, March 16th. JPMorgan Chase & Co. upped their price objective on Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Argus set a $73.00 price objective on Alcoa in a research note on Monday, April 27th. Weiss Ratings downgraded Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Finally, UBS Group raised Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the company from $75.00 to $80.00 in a research note on Friday, May 22nd. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.60.

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.