GAMMA Investing LLC Acquires 766 Shares of Alcoa $AA

GAMMA Investing LLC lifted its holdings in Alcoa (NYSE:AA) by 33.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,064 shares of the industrial products company’s stock after buying an additional 766 shares during the period. GAMMA Investing LLC’s holdings in Alcoa were worth $90,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Alcoa by 14.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,467 shares of the industrial products company’s stock worth $395,000 after acquiring an additional 1,337 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 520 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Alcoa by 1.3% in the 1st quarter. Rhumbline Advisers now owns 697,655 shares of the industrial products company’s stock worth $21,278,000 after acquiring an additional 8,871 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Alcoa in the 1st quarter worth about $217,000. Finally, UMB Bank n.a. lifted its holdings in shares of Alcoa by 109.9% in the 1st quarter. UMB Bank n.a. now owns 2,855 shares of the industrial products company’s stock worth $87,000 after acquiring an additional 1,495 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.

Alcoa Trading Up 3.0%

Shares of NYSE:AA opened at $34.88 on Friday. The business’s 50-day moving average is $31.42 and its 200 day moving average is $29.36. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The firm has a market capitalization of $9.03 billion, a P/E ratio of 9.11, a P/E/G ratio of 0.21 and a beta of 2.20. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS 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 company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were given a $0.10 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. Alcoa’s dividend payout ratio is 10.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AA shares. Morgan Stanley lowered their target price on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, July 18th. UBS Group upped their price target on shares of Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. JPMorgan Chase & Co. cut their price target on shares of Alcoa from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Thursday, July 17th. Citigroup upgraded shares of Alcoa to a “buy” rating and set a $42.00 price target on the stock in a report on Tuesday, July 8th. Finally, Bank of America upped their price target on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a report on Thursday, July 17th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.27.

Alcoa Company Profile

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.