Maple Rock Capital Partners Inc. Has $82.26 Million Stock Holdings in Alcoa $AA

Maple Rock Capital Partners Inc. boosted its holdings in shares of Alcoa (NYSE:AA) by 74.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,577,720 shares of the industrial products company’s stock after purchasing an additional 674,400 shares during the period. Alcoa comprises approximately 1.6% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 18th biggest position. Maple Rock Capital Partners Inc. owned 0.60% of Alcoa worth $82,262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AA. BlackRock Inc. acquired a new position in Alcoa during the second quarter worth about $1,528,523,000. Dimensional Fund Advisors LP grew its holdings in shares of Alcoa by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock valued at $615,428,000 after purchasing an additional 462,243 shares during the last quarter. State Street Corp increased its position in Alcoa by 6.7% during the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock worth $376,871,000 after purchasing an additional 721,063 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alcoa by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after purchasing an additional 349,426 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted 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 buying an additional 4,247,559 shares in the last quarter.

Analyst Ratings Changes

AA has been the topic of several research reports. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Argus reduced their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. UBS Group dropped their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $70.00 price objective on shares of Alcoa in a research note on Wednesday, July 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Six 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $61.09.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 15,628 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the transaction, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Alcoa Stock Performance

Shares of Alcoa stock opened at $50.05 on Tuesday. The business has a 50-day moving average price of $48.86 and a two-hundred day moving average price of $59.87. Alcoa has a 1-year low of $30.21 and a 1-year high of $84.38. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The company has a market cap of $13.21 billion, a P/E ratio of 10.30, a PEG ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA) last released its 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). The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the prior year, the business earned $0.39 EPS. As a group, analysts anticipate that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Shareholders 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 dividend payout ratio (DPR) 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.