743,061 Shares in Alcoa $AA Bought by Man Group plc

Man Group plc purchased a new stake in Alcoa (NYSE:AA) in the second quarter, HoldingsChannel reports. The institutional investor purchased 743,061 shares of the industrial products company’s stock, valued at approximately $38,743,000.

Other large investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC grew its holdings in shares of Alcoa by 3.4% during the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 170 shares during the last quarter. Essential Partners LLC boosted its position in shares of Alcoa by 0.9% in the 1st quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock valued at $1,361,000 after purchasing an additional 193 shares during the period. Northwestern Mutual Investment Management Company LLC grew its stake in Alcoa by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after buying an additional 229 shares during the last quarter. Crossmark Global Holdings Inc. grew its stake in Alcoa by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares during the last quarter. Finally, Himension Capital Singapore PTE. LTD. increased its position in Alcoa by 1.3% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock worth $1,235,000 after buying an additional 246 shares during the period.

Alcoa Trading Down 3.0%

Shares of AA stock opened at $49.72 on Thursday. The business’s fifty day moving average price is $49.37 and its 200 day moving average price is $60.09. The firm has a market capitalization of $13.12 billion, a PE ratio of 10.23, a P/E/G ratio of 0.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. Alcoa has a 1-year low of $30.21 and a 1-year high of $84.38.

Alcoa (NYSE:AA) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period last year, the business posted $0.39 EPS. As a group, sell-side analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, August 11th. Alcoa’s dividend payout ratio is presently 8.23%.

Wall Street Analysts Forecast Growth

AA has been the subject of a number of research reports. Royal Bank Of Canada set a $70.00 price objective on Alcoa in a research note on Wednesday, July 1st. Argus cut their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. B. Riley Financial reduced their price target on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Wells Fargo & Company decreased their price target on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $53.00 price objective (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Alcoa has a consensus rating of “Hold” and an average target price of $61.09.

Alcoa Company Profile

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.