Aster Capital Management DIFC Ltd Buys New Shares in Alcoa $AA

Aster Capital Management DIFC Ltd purchased a new stake in shares of Alcoa (NYSE:AA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,491 shares of the industrial products company’s stock, valued at approximately $542,000.

Several other large investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in shares of Alcoa by 455.9% in the third quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock valued at $2,071,000 after purchasing an additional 51,652 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Alcoa by 121.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock valued at $46,312,000 after buying an additional 861,383 shares during the period. Drummond Knight Asset Management Pty Ltd bought a new stake in Alcoa in the 2nd quarter valued at $44,893,000. Nordea Investment Management AB raised its stake in shares of Alcoa by 190.8% in the 3rd quarter. Nordea Investment Management AB now owns 142,050 shares of the industrial products company’s stock valued at $4,592,000 after buying an additional 93,204 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Alcoa during the 3rd quarter worth about $1,144,000.

Analyst Ratings Changes

AA has been the topic of a number of analyst reports. Citigroup upped their target price on shares of Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $50.00 price objective (up from $45.00) on shares of Alcoa in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. Argus set a $45.00 target price on Alcoa in a report on Thursday, October 30th. Finally, Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Alcoa has an average rating of “Hold” and a consensus target price of $48.25.

Alcoa Stock Performance

Shares of Alcoa stock opened at $63.44 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. The firm has a 50 day simple moving average of $59.56 and a 200 day simple moving average of $44.33. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $66.95. The firm has a market cap of $16.43 billion, a P/E ratio of 14.35 and a beta of 1.91.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. Sell-side analysts predict that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.40 annualized dividend and a yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 9.05%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.