Van ECK Associates Corp Buys 275,797 Shares of Alcoa $AA

Van ECK Associates Corp boosted its position in shares of Alcoa (NYSE:AA) by 39.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 982,917 shares of the industrial products company’s stock after acquiring an additional 275,797 shares during the quarter. Van ECK Associates Corp’s holdings in Alcoa were worth $51,249,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in shares of Alcoa during the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Alcoa in the 2nd quarter valued at about $25,000. Advisory Services Network LLC bought a new position in Alcoa during the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd grew its holdings in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the period. Finally, Western Wealth Management LLC acquired a new position in Alcoa during the first quarter worth approximately $35,000.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 15,628 shares of the business’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the sale, the executive vice president directly owned 39,819 shares in the company, valued at $2,014,841.40. The trade was a 28.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Alcoa Stock Down 1.6%

Alcoa stock opened at $50.35 on Friday. The stock has a market cap of $13.29 billion, a P/E ratio of 10.36, a P/E/G ratio of 0.57 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 has a twelve month low of $30.21 and a twelve month high of $84.38. The company’s 50-day moving average price is $49.03 and its two-hundred day moving average price is $59.97.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (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 firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, analysts expect that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) is presently 8.23%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Argus decreased their target price on Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Morgan Stanley restated an “equal weight” rating and issued a $53.00 price target (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Bank of America cut their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Alcoa currently has an average rating of “Hold” and a consensus target price of $61.09.

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.