Mirabella Financial Services LLP Purchases 81,715 Shares of Alcoa $AA

Mirabella Financial Services LLP boosted its position in Alcoa (NYSE:AA) by 25.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 406,715 shares of the industrial products company’s stock after purchasing an additional 81,715 shares during the period. Alcoa comprises about 1.1% of Mirabella Financial Services LLP’s investment portfolio, making the stock its 15th biggest position. Mirabella Financial Services LLP’s holdings in Alcoa were worth $13,377,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Alcoa in the 2nd quarter worth approximately $97,933,000. L1 Capital Pty Ltd grew its position in Alcoa by 178.8% during the second quarter. L1 Capital Pty Ltd now owns 4,814,342 shares of the industrial products company’s stock valued at $142,071,000 after buying an additional 3,087,298 shares during the period. Drummond Knight Asset Management Pty Ltd purchased a new stake in Alcoa during the second quarter valued at approximately $44,893,000. Dimensional Fund Advisors LP raised its position in Alcoa by 13.5% in 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. Finally, Man Group plc raised its position in Alcoa by 12,588.2% in the third quarter. Man Group plc now owns 1,164,902 shares of the industrial products company’s stock worth $38,314,000 after acquiring an additional 1,155,721 shares during the period.

Alcoa Trading Down 1.7%

Shares of Alcoa stock opened at $64.29 on Thursday. The company has a market capitalization of $16.96 billion, a P/E ratio of 14.54 and a beta of 1.85. 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 fifty day moving average of $61.71 and a 200 day moving average of $47.59. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $68.40.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS 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 analysts’ expectations of $3.28 billion. During the same period last year, the firm earned $1.04 earnings per share. The business’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be paid 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 (DPR) is 9.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AA. UBS Group boosted their price objective on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. B. Riley Financial reaffirmed a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Zacks Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. Morgan Stanley restated an “overweight” rating and issued a $52.00 price target on shares of Alcoa in a research report on Monday, December 15th. Finally, JPMorgan Chase & Co. raised Alcoa from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $50.00 to $68.00 in a research note on Friday, March 13th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alcoa currently has an average 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.