Marshall Wace LLP Raises Stock Position in Alcoa Co. (NYSE:AA)

Marshall Wace LLP grew its position in Alcoa Co. (NYSE:AA) by 770.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,422,797 shares of the industrial products company’s stock after acquiring an additional 1,259,430 shares during the quarter. Marshall Wace LLP owned about 0.79% of Alcoa worth $56,599,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of Alcoa in the 4th quarter valued at $39,000. Quest Partners LLC acquired a new stake in Alcoa in the fourth quarter valued at $40,000. Toronto Dominion Bank raised its position in Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 1,592 shares during the last quarter. Fifth Third Bancorp raised its stake in Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Alcoa during the 1st quarter valued at $101,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Price Performance

Shares of NYSE:AA opened at $36.01 on Thursday. The firm’s 50 day moving average price is $32.35 and its 200-day moving average price is $35.85. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.47 billion, a PE ratio of -9.58 and a beta of 2.42.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. Equities research analysts expect that Alcoa Co. will post 0.56 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.11%. Alcoa’s payout ratio is -10.64%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Bank of America decreased their target price on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. B. Riley raised their price objective on shares of Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Finally, Morgan Stanley cut their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.82.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.