Alcoa $AA Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its stake in shares of Alcoa (NYSE:AA) by 29.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,487 shares of the industrial products company’s stock after buying an additional 3,926 shares during the period. Envestnet Asset Management Inc.’s holdings in Alcoa were worth $516,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its stake in shares of Alcoa by 5.6% in 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 period. Strs Ohio purchased a new stake in Alcoa in the first quarter valued at $841,000. Voya Investment Management LLC grew its position in Alcoa by 4.3% during the 1st quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company’s stock worth $35,895,000 after purchasing an additional 48,604 shares during the period. Nordea Investment Management AB purchased a new position in shares of Alcoa during the 2nd quarter valued at about $1,433,000. Finally, Ausbil Investment Management Ltd lifted its holdings in shares of Alcoa by 650.0% in the 2nd quarter. Ausbil Investment Management Ltd now owns 15,000 shares of the industrial products company’s stock valued at $443,000 after buying an additional 13,000 shares during the period.

Alcoa Stock Performance

NYSE:AA opened at $38.70 on Tuesday. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. The company has a 50 day moving average price of $35.96 and a 200 day moving average price of $31.99. The stock has a market capitalization of $10.02 billion, a P/E ratio of 8.94, a PEG ratio of 0.20 and a beta of 2.26.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast 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 Friday, November 21st. Investors of record on Tuesday, November 4th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, November 4th. Alcoa’s dividend payout ratio (DPR) is 9.24%.

Analyst Ratings Changes

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Wednesday, November 19th. Morgan Stanley set a $43.50 target price on shares of Alcoa in a report on Friday, October 24th. BMO Capital Markets boosted their target price on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, October 23rd. Argus set a $45.00 price target on shares of Alcoa in a research report on Thursday, October 30th. Finally, Wells Fargo & Company assumed coverage on shares of Alcoa in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $40.00 price objective for the company. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.35.

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.