Janus Henderson Group PLC Raises Position in Alcoa $AA

Janus Henderson Group PLC grew its position in Alcoa (NYSE:AA) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 155,393 shares of the industrial products company’s stock after acquiring an additional 41,086 shares during the quarter. Janus Henderson Group PLC’s holdings in Alcoa were worth $10,303,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AA. Basepoint Wealth LLC acquired a new stake in Alcoa during the 4th quarter worth $25,000. Raleigh Capital Management Inc. raised its position in shares of Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after buying an additional 525 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares in the last quarter. Quarry LP boosted its position in Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 340 shares during the last quarter. Finally, Clearstead Trust LLC boosted its position in Alcoa by 431.7% during the fourth quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 613 shares during the last quarter.

Alcoa Price Performance

Alcoa stock opened at $46.90 on Wednesday. Alcoa has a 12-month low of $28.83 and a 12-month high of $84.38. The stock has a market cap of $12.38 billion, a P/E ratio of 9.65, a PEG ratio of 0.51 and a beta of 1.63. The company has a 50-day moving average price of $56.35 and a 200 day moving average price of $61.20. 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 issued 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). The firm had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period last year, the firm earned $0.39 earnings per share. Sell-side analysts anticipate that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa’s payout ratio is presently 8.23%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada set a $70.00 price objective on shares of Alcoa in a report on Wednesday, July 1st. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America dropped their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research report on Thursday, July 9th. JPMorgan Chase & Co. cut their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Finally, Wells Fargo & Company reduced their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.09.

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.