Quantinno Capital Management LP Raises Stock Position in Alcoa $AA

Quantinno Capital Management LP grew its stake in Alcoa (NYSE:AA) by 25.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,265 shares of the industrial products company’s stock after buying an additional 11,859 shares during the period. Quantinno Capital Management LP’s holdings in Alcoa were worth $3,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AA. Bank of New York Mellon Corp lifted its position in 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 valued at $332,338,000 after acquiring an additional 4,247,559 shares during the last quarter. Castle Hook Partners LP acquired a new stake in shares of Alcoa during the fourth quarter worth about $210,874,000. Maple Rock Capital Partners Inc. purchased a new stake in shares of Alcoa in the 4th quarter valued at about $173,412,000. AQR Capital Management LLC lifted its holdings in shares of Alcoa by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 4,134,425 shares of the industrial products company’s stock valued at $219,703,000 after purchasing an additional 2,503,132 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Alcoa by 247.9% in the 4th quarter. Invesco Ltd. now owns 2,415,697 shares of the industrial products company’s stock valued at $128,370,000 after purchasing an additional 1,721,280 shares during the period.

Alcoa Price Performance

Shares of NYSE AA opened at $50.18 on Friday. The stock has a fifty day moving average price of $54.73 and a 200 day moving average price of $60.92. Alcoa has a 1-year low of $28.92 and a 1-year high of $84.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The company has a market cap of $13.24 billion, a PE ratio of 10.33, a P/E/G ratio of 0.54 and a beta of 1.63.

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

Alcoa Dividend Announcement

The company 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa’s dividend payout ratio is currently 8.23%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Wells Fargo & Company cut their price target on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Zacks Research downgraded shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Argus decreased their price target on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Finally, B. Riley Financial reduced their target price on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target 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.