Hsbc Holdings PLC Makes New Investment in Alcoa $AA

Hsbc Holdings PLC acquired a new stake in Alcoa (NYSE:AA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 366,741 shares of the industrial products company’s stock, valued at approximately $19,468,000. Hsbc Holdings PLC owned approximately 0.14% of Alcoa as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC purchased a new position in shares of Alcoa in the fourth quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Alcoa during the 2nd quarter valued at $25,000. Advisory Services Network LLC purchased a new stake in Alcoa during the 3rd quarter worth $27,000. Caitong International Asset Management Co. Ltd increased its stake in Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares during the period. Finally, Western Wealth Management LLC acquired a new position in Alcoa in the 1st quarter worth $35,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Price Performance

AA opened at $51.32 on Friday. The company has a 50-day moving average of $49.21 and a 200-day moving average of $60.03. The company has a market capitalization of $13.54 billion, a P/E ratio of 10.56, a PEG ratio of 0.56 and a beta of 1.63. Alcoa has a 1-year low of $30.21 and a 1-year high of $84.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate 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 return on equity of 18.90% and a net margin of 9.48%.During the same period in the previous year, the business posted $0.39 EPS. Equities analysts expect that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on AA shares. Argus decreased their price objective 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. Royal Bank Of Canada set a $70.00 target price on Alcoa in a research report on Wednesday, July 1st. Morgan Stanley reiterated an “equal weight” rating and issued a $53.00 price target (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. UBS Group reduced their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.