Terra Nova Asset Management LLC boosted its stake in Alcoa Inc. (NYSE:AA) by 40.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,185 shares of the company’s stock after buying an additional 7,295 shares during the period. Terra Nova Asset Management LLC’s holdings in Alcoa were worth $233,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canandaigua National Bank & Trust Co. increased its position in shares of Alcoa by 104.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 26,144 shares of the company’s stock valued at $242,000 after buying an additional 13,385 shares in the last quarter. Strs Ohio increased its position in shares of Alcoa by 0.4% in the second quarter. Strs Ohio now owns 1,012,528 shares of the company’s stock valued at $9,386,000 after buying an additional 4,114 shares in the last quarter. Mount Vernon Associates Inc. MD increased its position in shares of Alcoa by 3.6% in the second quarter. Mount Vernon Associates Inc. MD now owns 86,300 shares of the company’s stock valued at $800,000 after buying an additional 3,000 shares in the last quarter. Financial Architects Inc purchased a new position in shares of Alcoa during the second quarter valued at $338,000. Finally, Meeder Asset Management Inc. increased its position in shares of Alcoa by 41.6% in the second quarter. Meeder Asset Management Inc. now owns 27,076 shares of the company’s stock valued at $251,000 after buying an additional 7,948 shares in the last quarter.
Alcoa Inc. (NYSE:AA) traded up 2.44% during trading on Wednesday, hitting $9.67. 15,640,786 shares of the stock were exchanged. The stock’s 50 day moving average price is $10.08 and its 200 day moving average price is $9.91. Alcoa Inc. has a 12 month low of $6.14 and a 12 month high of $11.50. The stock’s market cap is $12.72 billion.
Alcoa (NYSE:AA) last announced its earnings results on Monday, July 11th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The firm had revenue of $5.30 billion for the quarter. During the same period in the previous year, the company earned $0.19 earnings per share. Alcoa’s quarterly revenue was down 10.2% on a year-over-year basis. Analysts forecast that Alcoa Inc. will post $0.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Friday, August 5th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.24%. The ex-dividend date was Wednesday, August 3rd. Alcoa’s payout ratio is currently -42.86%.
Several brokerages have commented on AA. Seaport Global Securities began coverage on shares of Alcoa in a research note on Friday, September 9th. They issued a “neutral” rating and a $11.00 price target on the stock. Morgan Stanley reiterated a “buy” rating and issued a $12.00 price target on shares of Alcoa in a research note on Tuesday, August 16th. Argus reiterated a “hold” rating on shares of Alcoa in a research note on Friday, July 15th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Alcoa in a research note on Friday, July 15th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $9.00 price target on shares of Alcoa in a research note on Tuesday, July 12th. Ten equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $11.29.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were purchased at an average cost of $10.40 per share, with a total value of $52,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $104,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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