Holocene Advisors LP Has $33.67 Million Stock Holdings in Alcoa $AA

Holocene Advisors LP increased its holdings in shares of Alcoa (NYSE:AA) by 40.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,023,813 shares of the industrial products company’s stock after buying an additional 295,482 shares during the quarter. Holocene Advisors LP’s holdings in Alcoa were worth $33,673,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Gotham Asset Management LLC lifted its stake in Alcoa by 12.2% in the 3rd quarter. Gotham Asset Management LLC now owns 436,889 shares of the industrial products company’s stock worth $14,369,000 after acquiring an additional 47,515 shares in the last quarter. Focus Partners Wealth grew its stake in Alcoa by 68.4% during the 3rd quarter. Focus Partners Wealth now owns 12,159 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 4,938 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in Alcoa during the 3rd quarter valued at about $1,857,000. Bridgefront Capital LLC increased its holdings in shares of Alcoa by 47.8% in the 3rd quarter. Bridgefront Capital LLC now owns 12,099 shares of the industrial products company’s stock valued at $398,000 after purchasing an additional 3,913 shares during the period. Finally, California Public Employees Retirement System increased its holdings in shares of Alcoa by 5.1% in the 3rd quarter. California Public Employees Retirement System now owns 436,822 shares of the industrial products company’s stock valued at $14,367,000 after purchasing an additional 21,213 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on AA. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. JPMorgan Chase & Co. upgraded shares of Alcoa from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $50.00 to $68.00 in a research report on Friday. Morgan Stanley restated an “overweight” rating and set a $52.00 price target on shares of Alcoa in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. Finally, Citigroup lifted their price objective on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research report on Monday. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.45.

Alcoa Price Performance

NYSE AA opened at $66.67 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $17.59 billion, a PE ratio of 15.08 and a beta of 1.85. Alcoa has a 12-month low of $21.53 and a 12-month high of $68.40. The company has a 50 day moving average price of $61.64 and a two-hundred day moving average price of $47.24.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.95 by $0.31. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. Alcoa’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.04 EPS. As a group, equities analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Alcoa’s dividend payout ratio is presently 9.05%.

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.