Man Group plc Purchases Shares of 743,061 Alcoa $AA

Man Group plc purchased a new position in Alcoa (NYSE:AA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 743,061 shares of the industrial products company’s stock, valued at approximately $38,743,000. Man Group plc owned approximately 0.28% of Alcoa as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Basepoint Wealth LLC acquired a new position in Alcoa during the 4th quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Alcoa during the 2nd quarter worth about $25,000. Western Wealth Management LLC acquired a new stake in Alcoa in the 1st quarter valued at about $35,000. Caitong International Asset Management Co. Ltd raised its position in Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Alcoa by 96.0% in the 4th quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after buying an additional 340 shares during the period.

Alcoa Stock Down 3.0%

Shares of NYSE AA opened at $49.72 on Thursday. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 0.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The business has a 50-day moving average of $49.37 and a two-hundred day moving average of $60.09. Alcoa has a 1 year low of $30.21 and a 1 year high of $84.38.

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

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, August 11th. Alcoa’s dividend payout ratio is 8.23%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AA shares. UBS Group lowered their price objective on Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Argus decreased their price target on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Zacks Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.