Ameritas Advisory Services LLC Acquires Shares of 2,783 Alcoa $AA

Ameritas Advisory Services LLC acquired a new stake in Alcoa (NYSE:AA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,783 shares of the industrial products company’s stock, valued at approximately $82,000.

Other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Alcoa by 61.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company’s stock worth $516,000 after acquiring an additional 6,447 shares during the period. Public Employees Retirement System of Ohio increased its stake in Alcoa by 5.6% during the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock worth $2,367,000 after acquiring an additional 4,255 shares during the last quarter. Strs Ohio acquired a new stake in Alcoa during the first quarter worth about $841,000. GAMMA Investing LLC grew its stake in shares of Alcoa by 58.8% in the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock valued at $70,000 after buying an additional 851 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Alcoa by 4.3% in the first quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company’s stock valued at $35,895,000 after buying an additional 48,604 shares in the last quarter.

Alcoa Trading Down 5.3%

Shares of AA opened at $35.05 on Friday. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 9.15, a P/E/G ratio of 0.23 and a beta of 2.20. The stock’s 50-day moving average price is $32.07 and its 200 day moving average price is $29.41. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. As a group, research analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed 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 of this dividend was Tuesday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.1%. Alcoa’s dividend payout ratio is currently 10.44%.

Analyst Upgrades and Downgrades

AA has been the subject of a number of analyst reports. Bank of America increased their price target on Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a report on Thursday, July 17th. Wells Fargo & Company started coverage on Alcoa in a research report on Tuesday. They issued an “overweight” rating and a $40.00 target price on the stock. Morgan Stanley lifted their price target on Alcoa from $38.00 to $42.50 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings raised Alcoa from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, UBS Group raised their target price on Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $43.04.

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.