Alcoa $AA Shares Purchased by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd lifted its position in Alcoa (NYSE:AA) by 21.1% in the first quarter, HoldingsChannel reports. The firm owned 1,300,647 shares of the industrial products company’s stock after buying an additional 226,253 shares during the period. Temasek Holdings Private Ltd’s holdings in Alcoa were worth $86,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baader Bank Aktiengesellschaft acquired a new position in Alcoa in the 1st quarter valued at about $2,358,000. Convergence Investment Partners LLC increased its holdings in shares of Alcoa by 6.7% during the 1st quarter. Convergence Investment Partners LLC now owns 27,719 shares of the industrial products company’s stock worth $1,839,000 after buying an additional 1,750 shares during the last quarter. Earned Wealth Advisors LLC acquired a new stake in shares of Alcoa during the 1st quarter worth approximately $204,000. Hollencrest Capital Management raised its position in shares of Alcoa by 2.3% during the 1st quarter. Hollencrest Capital Management now owns 131,995 shares of the industrial products company’s stock valued at $8,755,000 after buying an additional 3,030 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Alcoa by 40.2% during the 1st quarter. Parallel Advisors LLC now owns 4,677 shares of the industrial products company’s stock valued at $310,000 after buying an additional 1,340 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AA. Morgan Stanley reiterated an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group decreased their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Royal Bank Of Canada set a $70.00 price target on Alcoa in a report on Wednesday, July 1st. Finally, Bank of America lowered their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.73.

Alcoa Stock Performance

NYSE AA opened at $44.23 on Wednesday. The company has a market cap of $11.67 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.48 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. The stock has a 50-day moving average of $60.80 and a two-hundred day moving average of $62.38. Alcoa has a 1-year low of $28.11 and a 1-year high of $84.38.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the prior year, the company posted $0.39 EPS. As a group, analysts anticipate that Alcoa will post 6.72 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio is presently 8.23%.

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.