Banco Bilbao Vizcaya Argentaria S.A. Has $2.31 Million Holdings in Alcoa $AA

Banco Bilbao Vizcaya Argentaria S.A. reduced its position in Alcoa (NYSE:AA) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,951 shares of the industrial products company’s stock after selling 2,742 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Alcoa were worth $2,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. IFP Advisors Inc lifted its holdings in shares of Alcoa by 1,096.0% during the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 822 shares during the period. Horrell Capital Management Inc. bought a new position in Alcoa during the second quarter worth about $30,000. Montag A & Associates Inc. bought a new stake in shares of Alcoa in the 1st quarter valued at approximately $40,000. Quarry LP bought a new position in shares of Alcoa during the 1st quarter worth approximately $57,000. Finally, Banque Transatlantique SA acquired a new stake in Alcoa in the 1st quarter valued at $74,000.

Alcoa Trading Down 1.8%

Shares of NYSE AA opened at $37.51 on Monday. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The firm has a market capitalization of $9.71 billion, a P/E ratio of 8.66, a P/E/G ratio of 0.21 and a beta of 2.26. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 0.91. The company’s 50 day simple moving average is $35.43 and its 200 day simple moving average is $31.50.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.13. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. On average, analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 4th. Alcoa’s payout ratio is presently 9.24%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group lifted their price objective on Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Morgan Stanley set a $43.50 price objective on shares of Alcoa in a research note on Friday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $34.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. BMO Capital Markets increased their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Argus set a $45.00 price objective on Alcoa in a research report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.35.

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.