Rokos Capital Management LLP Buys Shares of 181,115 Alcoa $AA

Rokos Capital Management LLP bought a new stake in shares of Alcoa (NYSE:AA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 181,115 shares of the industrial products company’s stock, valued at approximately $12,012,000.

A number of other institutional investors have also recently made changes to their positions in AA. Checchi Capital Advisers LLC raised 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 valued at $341,000 after purchasing an additional 170 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in Alcoa by 1.9% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after purchasing an additional 204 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in Alcoa by 0.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after purchasing an additional 229 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Crossmark Global Holdings Inc. grew its position in Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after purchasing an additional 241 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AA. Argus decreased their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their price target on Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Zacks Research lowered Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Finally, Wells Fargo & Company lowered their target price on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a report on Friday, July 17th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.09.

Alcoa Stock Performance

Shares of NYSE AA opened at $44.11 on Tuesday. The firm has a 50 day moving average of $59.20 and a 200 day moving average of $62.00. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $11.64 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.50 and a beta of 1.63. Alcoa has a 12-month low of $28.11 and a 12-month high of $84.38.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. On average, research analysts anticipate that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio is 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.