Rokos Capital Management LLP Purchases New Shares in Alcoa $AA

Rokos Capital Management LLP purchased a new position in Alcoa (NYSE:AA) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 181,115 shares of the industrial products company’s stock, valued at approximately $12,012,000. Rokos Capital Management LLP owned 0.07% of Alcoa as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC lifted its position in Alcoa by 64.6% during the first quarter. Empowered Funds LLC now owns 118,039 shares of the industrial products company’s stock valued at $7,830,000 after buying an additional 46,332 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Alcoa by 7.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 232,642 shares of the industrial products company’s stock worth $15,431,000 after buying an additional 15,315 shares during the period. Quantinno Capital Management LP increased its stake in shares of Alcoa by 25.0% in the 1st quarter. Quantinno Capital Management LP now owns 59,265 shares of the industrial products company’s stock worth $3,931,000 after acquiring an additional 11,859 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Alcoa in the 1st quarter worth about $355,000. Finally, Quadcap Wealth Management LLC purchased a new position in Alcoa during the 1st quarter valued at about $454,000.

Alcoa Trading Down 0.3%

Shares of NYSE AA opened at $44.11 on Tuesday. The firm’s 50 day moving average price is $59.20 and its 200-day moving average price is $62.00. Alcoa has a 52-week low of $28.11 and a 52-week high of $84.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The company has a market cap of $11.64 billion, a PE ratio of 9.08, a P/E/G ratio of 0.50 and a beta of 1.63.

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

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AA shares. B. Riley Financial cut their price objective on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Argus dropped their price target on Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price target (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Royal Bank Of Canada set a $70.00 price target on Alcoa in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Alcoa currently has an average rating of “Hold” and an average price target of $61.09.

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.