Alphadyne Asset Management LP Grows Position in Alcoa $AA

Alphadyne Asset Management LP grew its position in Alcoa (NYSE:AA) by 66.7% during the fourth quarter, HoldingsChannel reports. The firm owned 125,000 shares of the industrial products company’s stock after buying an additional 50,000 shares during the quarter. Alcoa comprises approximately 0.2% of Alphadyne Asset Management LP’s holdings, making the stock its 8th biggest position. Alphadyne Asset Management LP’s holdings in Alcoa were worth $6,642,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Mirabella Financial Services LLP increased its position in Alcoa by 12,233.1% during the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock worth $1,318,312,000 after acquiring an additional 39,757,462 shares during the period. Bank of New York Mellon Corp increased its position in Alcoa by 211.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock worth $332,338,000 after acquiring an additional 4,247,559 shares during the period. Maple Rock Capital Partners Inc. bought a new position in Alcoa during the fourth quarter worth $173,412,000. AQR Capital Management LLC increased its position in Alcoa by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 4,134,425 shares of the industrial products company’s stock worth $219,703,000 after acquiring an additional 2,503,132 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Alcoa by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company’s stock worth $365,710,000 after acquiring an additional 1,322,540 shares during the period.

Alcoa Trading Down 1.6%

Shares of Alcoa stock opened at $61.85 on Thursday. The firm has a market capitalization of $16.32 billion, a PE ratio of 15.66 and a beta of 1.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. The company’s fifty day moving average price is $68.93 and its two-hundred day moving average price is $61.96. Alcoa has a 52-week low of $27.72 and a 52-week high of $84.38.

Alcoa (NYSE:AA) last issued its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the firm posted $2.15 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts expect that Alcoa will post 7.98 EPS for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s dividend payout ratio is presently 10.13%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a research report on Thursday, March 12th. BMO Capital Markets boosted their target price on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Citigroup boosted their target price on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Argus set a $73.00 price target on shares of Alcoa in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.50.

Alcoa Company 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.