Alcoa $AA Shares Bought by Entropy Technologies LP

Entropy Technologies LP grew its stake in Alcoa (NYSE:AA) by 914.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 98,017 shares of the industrial products company’s stock after buying an additional 88,352 shares during the quarter. Entropy Technologies LP’s holdings in Alcoa were worth $6,501,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alcoa by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after acquiring an additional 4,624 shares in the last quarter. Invesco Ltd. grew its holdings in Alcoa by 1.9% during the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after acquiring an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,295 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after purchasing an additional 205,717 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AA shares. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Bank of America dropped their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. JPMorgan Chase & Co. decreased their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Finally, Argus lowered their price objective on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Alcoa currently has a consensus rating of “Hold” and an average price target of $61.09.

Alcoa Stock Performance

NYSE AA opened at $44.20 on Friday. The company has a fifty day moving average of $59.57 and a two-hundred day moving average of $62.13. The company has a market capitalization of $11.66 billion, a PE ratio of 9.10, a P/E/G ratio of 0.51 and a beta of 1.63. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92.

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

Alcoa Dividend Announcement

The firm 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s payout ratio is presently 8.23%.

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.