Entropy Technologies LP Invests $1.59 Million in Alcoa Co. (NYSE:AA)

Entropy Technologies LP bought a new position in shares of Alcoa Co. (NYSE:AA) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 47,174 shares of the industrial products company’s stock, valued at approximately $1,594,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Spire Wealth Management lifted its position in shares of Alcoa by 252.5% during the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Alcoa in the fourth quarter valued at about $31,000. Private Wealth Management Group LLC bought a new stake in shares of Alcoa in the fourth quarter valued at about $33,000. Quent Capital LLC raised its holdings in shares of Alcoa by 64.2% in the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 387 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Alcoa in the fourth quarter valued at about $39,000.

Alcoa Price Performance

Shares of AA stock traded up $0.96 during trading hours on Thursday, hitting $37.77. 1,903,551 shares of the company’s stock were exchanged, compared to its average volume of 5,835,727. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The firm has a market cap of $6.78 billion, a P/E ratio of -9.86 and a beta of 2.45. The firm has a 50 day moving average of $40.53 and a two-hundred day moving average of $34.60. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.35) EPS. Sell-side analysts forecast that Alcoa Co. will post 2.19 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend was Monday, May 20th. Alcoa’s payout ratio is -10.64%.

Wall Street Analysts Forecast Growth

AA has been the subject of several recent research reports. Citigroup lifted their price objective on Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. UBS Group lifted their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday, April 19th. B. Riley lifted their price objective on Alcoa from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday. StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Finally, BMO Capital Markets boosted their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Alcoa currently has an average rating of “Hold” and an average price target of $39.55.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.