Erste Asset Management GmbH Makes New Investment in Alcoa $AA

Erste Asset Management GmbH purchased a new position in shares of Alcoa (NYSE:AA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,683 shares of the industrial products company’s stock, valued at approximately $842,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Brandywine Global Investment Management LLC purchased a new stake in shares of Alcoa during the fourth quarter worth approximately $9,634,000. O Shaughnessy Asset Management LLC boosted its holdings in Alcoa by 278.6% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 113,961 shares of the industrial products company’s stock valued at $6,056,000 after purchasing an additional 83,858 shares in the last quarter. CenterBook Partners LP acquired a new position in Alcoa in the fourth quarter valued at approximately $391,000. Cookson Peirce & Co. Inc. acquired a new stake in shares of Alcoa in the fourth quarter valued at approximately $478,000. Finally, Havemeyer Place LP acquired a new stake in shares of Alcoa in the fourth quarter valued at approximately $704,000.

Alcoa Trading Down 9.3%

Shares of AA stock opened at $65.70 on Thursday. The firm has a 50-day moving average price of $69.44 and a 200 day moving average price of $61.05. Alcoa has a twelve month low of $27.72 and a twelve month high of $84.38. The company has a market capitalization of $17.34 billion, a price-to-earnings ratio of 16.63 and a beta of 1.56. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 EPS. Research analysts forecast that Alcoa will post 7.95 earnings per share for the current fiscal year.

Alcoa Announces Dividend

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

Wall Street Analyst Weigh In

AA has been the subject of several research analyst reports. UBS Group raised Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $75.00 to $80.00 in a report on Friday, May 22nd. JPMorgan Chase & Co. increased their price objective on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Weiss Ratings cut Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 1st. Wells Fargo & Company set a $68.00 price objective on Alcoa in a research report on Thursday, March 12th. Finally, Zacks Research cut Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.60.

About Alcoa

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.