Lombard Odier Asset Management Europe Ltd Acquires 42,979 Shares of Alcoa $AA

Lombard Odier Asset Management Europe Ltd raised its holdings in shares of Alcoa (NYSE:AA) by 90.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,258 shares of the industrial products company’s stock after buying an additional 42,979 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Alcoa were worth $5,987,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Alcoa by 4.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock worth $615,428,000 after purchasing an additional 462,243 shares in the last quarter. State Street Corp lifted its position in Alcoa by 6.7% during the third quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock valued at $376,871,000 after purchasing an additional 721,063 shares during the last quarter. Geode Capital Management LLC lifted its position in Alcoa by 5.5% during the fourth quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after purchasing an additional 349,426 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Alcoa by 211.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock worth $332,338,000 after buying an additional 4,247,559 shares in the last quarter. Finally, L1 Capital Pty Ltd grew its stake in Alcoa by 22.3% in the 3rd quarter. L1 Capital Pty Ltd now owns 5,887,699 shares of the industrial products company’s stock worth $193,646,000 after buying an additional 1,073,357 shares in the last quarter.

Alcoa Stock Performance

NYSE AA opened at $45.31 on Monday. The company has a 50-day simple moving average of $57.44 and a two-hundred day simple moving average of $61.46. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. Alcoa has a 12-month low of $28.11 and a 12-month high of $84.38. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.51 and a beta of 1.63.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate 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 earnings per share. On average, equities analysts forecast that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.9%. Alcoa’s payout ratio is presently 8.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AA shares. UBS Group lowered their price objective on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Argus cut their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company lowered their price target on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Finally, BMO Capital Markets cut their price objective on Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Alcoa currently 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.