Alcoa $AA Shares Bought by Nwam LLC

Nwam LLC grew its stake in Alcoa (NYSE:AA) by 403.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 38,388 shares of the industrial products company’s stock after buying an additional 30,760 shares during the quarter. Nwam LLC’s holdings in Alcoa were worth $2,002,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in Alcoa in the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Alcoa during the 2nd quarter worth approximately $25,000. Western Wealth Management LLC acquired a new position in Alcoa during the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd increased its position in shares of Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares during the last quarter. Finally, Quarry LP increased its position in shares of Alcoa by 96.0% in the 4th quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 340 shares during the last quarter.

Alcoa Stock Up 2.0%

Shares of NYSE:AA opened at $50.95 on Wednesday. The company has a market capitalization of $13.45 billion, a PE ratio of 10.48, a P/E/G 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 has a twelve month low of $30.21 and a twelve month high of $84.38. The firm has a 50 day simple moving average of $48.78 and a 200-day simple moving average of $59.78.

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

Alcoa Announces Dividend

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

Insider Buying and Selling at Alcoa

In other news, EVP Tammi A. Jones sold 15,628 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,014,841.40. The trade was a 28.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Renato Bacchi sold 700 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the sale, the executive vice president directly owned 74,930 shares of the company’s stock, valued at $3,822,928.60. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AA shares. UBS Group decreased their price objective on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. JPMorgan Chase & Co. cut their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Bank of America decreased 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, Wells Fargo & Company lowered their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Alcoa has an average rating of “Hold” and an average price target 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.