Candriam Luxembourg S.C.A. increased its position in shares of Alcoa Inc. (NYSE:AA) by 104.6% during the second quarter, Holdings Channel reports. The institutional investor owned 480,783 shares of the company’s stock after buying an additional 245,767 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Alcoa were worth $4,457,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of AA. Cupps Capital Management LLC acquired a new position in shares of Alcoa during the first quarter worth about $109,000. Citizens Financial Group Inc RI boosted its position in shares of Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock worth $109,000 after buying an additional 1,401 shares during the last quarter. AXA purchased a new position in shares of Alcoa during the first quarter worth $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Alcoa during the second quarter worth $121,000. Finally, Canandaigua National Bank & Trust Co. purchased a new position in shares of Alcoa during the first quarter worth $122,000.
Shares of Alcoa Inc. (NYSE:AA) traded up 0.81% during midday trading on Thursday, hitting $9.96. The stock had a trading volume of 26,881,953 shares. Alcoa Inc. has a 52 week low of $6.14 and a 52 week high of $11.50. The stock’s 50-day moving average price is $9.98 and its 200 day moving average price is $9.92. The company’s market cap is $13.10 billion.
Alcoa (NYSE:AA) last released its quarterly earnings data on Monday, July 11th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.06. The company had revenue of $5.30 billion for the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. Alcoa’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. On average, equities analysts forecast that Alcoa Inc. will post $0.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Friday, December 9th will be given a dividend of $0.9375 per share. This represents a $3.75 dividend on an annualized basis and a dividend yield of 37.65%. This is a boost from Alcoa’s previous quarterly dividend of $0.03. Alcoa’s dividend payout ratio is -42.86%.
A number of equities analysts have recently weighed in on the stock. Argus reissued a “hold” rating on shares of Alcoa in a research report on Friday, July 15th. Morgan Stanley reissued a “buy” rating and set a $12.00 price target on shares of Alcoa in a research report on Tuesday, August 16th. Bank of America Corp. reissued a “buy” rating on shares of Alcoa in a research report on Friday, June 17th. Seaport Global Securities assumed coverage on shares of Alcoa in a research report on Friday, September 9th. They set a “neutral” rating and a $11.00 price target on the stock. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $11.29.
In related news, Director Ulrich Schmidt acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were bought at an average price of $10.40 per share, with a total value of $52,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The transaction was disclosed in a legal filing with the SEC, which is available at 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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