Capstone Investment Advisors LLC Takes Position in Alcoa $AA

Capstone Investment Advisors LLC acquired a new position in shares of Alcoa (NYSE:AA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 201,349 shares of the industrial products company’s stock, valued at approximately $10,498,000.

Several other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Alcoa in the 2nd quarter valued at approximately $1,528,523,000. Bank of New York Mellon Corp increased its position in Alcoa by 211.7% during 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 buying an additional 4,247,559 shares in the last quarter. Castle Hook Partners LP acquired a new position in shares of Alcoa in the fourth quarter worth $210,874,000. Maple Rock Capital Partners Inc. acquired a new position in shares of Alcoa in the fourth quarter worth $173,412,000. Finally, AQR Capital Management LLC lifted its position in shares of Alcoa by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 4,134,425 shares of the industrial products company’s stock valued at $219,703,000 after acquiring an additional 2,503,132 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Bank of America dropped their price objective on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research report on Thursday, July 9th. Zacks Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Wells Fargo & Company cut their price objective on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Finally, Argus decreased their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.09.

Alcoa Stock Performance

NYSE AA opened at $51.32 on Friday. The business’s 50-day moving average price is $49.21 and its 200 day moving average price is $60.03. Alcoa has a twelve month low of $30.21 and a twelve month high of $84.38. The company has a market capitalization of $13.54 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the firm earned $0.39 EPS. On average, research analysts predict that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, August 11th. Alcoa’s payout ratio is presently 8.23%.

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.