Quantbot Technologies LP Purchases Shares of 22,616 Alcoa $AA

Quantbot Technologies LP acquired a new position in Alcoa (NYSE:AA) during the 2nd quarter, HoldingsChannel reports. The fund acquired 22,616 shares of the industrial products company’s stock, valued at approximately $1,179,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Alcoa by 3,061.2% in the first quarter. Fifth Third Bancorp now owns 63,098 shares of the industrial products company’s stock valued at $4,185,000 after buying an additional 61,102 shares in the last quarter. Advisors Preferred LLC acquired a new position in shares of Alcoa in the first quarter worth about $1,613,000. XY Capital Ltd purchased a new stake in shares of Alcoa during the 1st quarter worth about $1,662,000. Regal Partners Ltd boosted its stake in shares of Alcoa by 567.4% during the 1st quarter. Regal Partners Ltd now owns 356,330 shares of the industrial products company’s stock worth $23,635,000 after acquiring an additional 302,940 shares in the last quarter. Finally, M&T Bank Corp grew its position in shares of Alcoa by 188.9% during the 4th quarter. M&T Bank Corp now owns 39,918 shares of the industrial products company’s stock valued at $2,121,000 after acquiring an additional 26,102 shares during the period.

Wall Street Analyst Weigh In

AA has been the subject of several recent analyst reports. B. Riley Financial cut their price target on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Bank of America lowered their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada set a $70.00 price objective on Alcoa in a report on Wednesday, July 1st. Wells Fargo & Company cut their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. reduced their target price on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $61.09.

Alcoa Stock Performance

AA opened at $51.27 on Wednesday. The firm’s fifty day simple moving average is $49.61 and its two-hundred day simple moving average is $60.14. Alcoa has a 52-week low of $30.21 and a 52-week high of $84.38. The company has a market cap of $13.53 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.56 and a beta of 1.63. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the firm earned $0.39 EPS. Equities analysts anticipate that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, August 11th. Alcoa’s payout ratio is 8.23%.

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.