Parallel Advisors LLC Acquires 1,312 Shares of Alcoa $AA

Parallel Advisors LLC boosted its holdings in shares of Alcoa (NYSE:AA) by 73.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,096 shares of the industrial products company’s stock after buying an additional 1,312 shares during the period. Parallel Advisors LLC’s holdings in Alcoa were worth $91,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Alcoa by 2.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 641,985 shares of the industrial products company’s stock valued at $24,254,000 after buying an additional 13,869 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Alcoa during the fourth quarter valued at $3,202,000. Forum Financial Management LP bought a new stake in Alcoa during the fourth quarter valued at $291,000. Wealth Enhancement Advisory Services LLC boosted its stake in Alcoa by 14.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,467 shares of the industrial products company’s stock valued at $395,000 after buying an additional 1,337 shares during the period. Finally, 111 Capital bought a new stake in Alcoa during the fourth quarter valued at $493,000.

Alcoa Stock Down 1.0%

Shares of NYSE:AA opened at $31.23 on Thursday. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a market cap of $8.08 billion, a PE ratio of 8.15, a P/E/G ratio of 0.18 and a beta of 2.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97. The stock’s 50-day moving average is $31.16 and its 200 day moving average is $29.34.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the business earned $0.16 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Sell-side analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. Alcoa’s dividend payout ratio is 10.44%.

Analyst Ratings Changes

Several equities research analysts have issued reports on AA shares. Citigroup raised Alcoa to a “buy” rating and set a $42.00 price target for the company in a research note on Tuesday, July 8th. Morgan Stanley dropped their price target on Alcoa from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. UBS Group lifted their price target on Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. B. Riley lifted their price target on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America lifted their price target on Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Alcoa currently has an average rating of “Hold” and a consensus price target of $42.27.

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.