Lombard Odier Asset Management Europe Ltd Invests $2.51 Million in Alcoa $AA

Lombard Odier Asset Management Europe Ltd bought a new position in shares of Alcoa (NYSE:AA) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 47,279 shares of the industrial products company’s stock, valued at approximately $2,512,000.

A number of other institutional investors have also modified their holdings of AA. NewEdge Advisors LLC increased its position in shares of Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alcoa by 0.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after acquiring an additional 4,624 shares during the period. Invesco Ltd. increased its position in shares of Alcoa by 1.9% during the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after acquiring an additional 12,008 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Alcoa by 173.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,295 shares during the period. Finally, First Trust Advisors LP increased its holdings in Alcoa by 320.1% during the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after buying an additional 205,717 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AA shares. Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a report on Thursday, March 12th. Argus set a $73.00 price objective on shares of Alcoa in a report on Monday, April 27th. Citigroup lifted their price objective on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a report on Monday, March 16th. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley set a $79.00 price objective on shares of Alcoa in a report on Thursday, June 11th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.50.

Alcoa Stock Performance

Shares of NYSE AA opened at $62.88 on Wednesday. The company’s fifty day moving average price is $69.11 and its 200 day moving average price is $61.82. Alcoa has a 1 year low of $27.72 and a 1 year high of $84.38. The company has a market capitalization of $16.59 billion, a PE ratio of 15.92 and a beta of 1.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the company posted $2.15 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis. On average, research analysts predict that Alcoa will post 7.89 earnings per share for the current year.

Alcoa Dividend Announcement

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

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.