Lighthouse Investment Partners LLC Takes Position in Alcoa $AA

Lighthouse Investment Partners LLC bought a new stake in shares of Alcoa (NYSE:AA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 170,458 shares of the industrial products company’s stock, valued at approximately $5,606,000.

A number of other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its position in shares of Alcoa by 455.9% during the 3rd quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock valued at $2,071,000 after purchasing an additional 51,652 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Alcoa by 121.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock worth $46,312,000 after purchasing an additional 861,383 shares in the last quarter. Regal Partners Ltd lifted its stake in Alcoa by 7.0% during the third quarter. Regal Partners Ltd now owns 451,940 shares of the industrial products company’s stock valued at $14,864,000 after purchasing an additional 29,612 shares during the last quarter. Drummond Knight Asset Management Pty Ltd acquired a new stake in Alcoa during the second quarter valued at approximately $44,893,000. Finally, Nordea Investment Management AB boosted its holdings in Alcoa by 190.8% during the third quarter. Nordea Investment Management AB now owns 142,050 shares of the industrial products company’s stock worth $4,592,000 after buying an additional 93,204 shares in the last quarter.

Alcoa Stock Performance

AA opened at $66.67 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.44. The company has a market cap of $17.59 billion, a PE ratio of 15.08 and a beta of 1.85. The stock has a 50-day moving average of $61.64 and a 200-day moving average of $47.24. Alcoa has a 52-week low of $21.53 and a 52-week high of $68.40.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the business earned $1.04 EPS. The firm’s revenue was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 9.05%.

Wall Street Analysts Forecast Growth

AA has been the topic of several recent research reports. Zacks Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Wells Fargo & Company set a $68.00 price objective on Alcoa in a research note on Thursday. UBS Group lifted their target price on Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Finally, Citigroup upped their target price on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a report on Monday. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and an average price target of $50.45.

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.