Grantham Mayo Van Otterloo & Co. LLC Makes New $3.20 Million Investment in Alcoa $AA

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in Alcoa (NYSE:AA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 97,400 shares of the industrial products company’s stock, valued at approximately $3,203,000.

Several other institutional investors also recently made changes to their positions in AA. Root Financial Partners LLC bought a new stake in shares of Alcoa in the 3rd quarter worth approximately $29,000. Horrell Capital Management Inc. bought a new position in Alcoa during the 2nd quarter worth $30,000. Orion Capital Management LLC bought a new position in Alcoa during the 3rd quarter worth $33,000. Westfuller Advisors LLC acquired a new stake in Alcoa in the third quarter worth $35,000. Finally, Huntington National Bank lifted its stake in Alcoa by 167.9% in the third quarter. Huntington National Bank now owns 1,259 shares of the industrial products company’s stock valued at $41,000 after buying an additional 789 shares during the last quarter.

Alcoa Price Performance

Shares of NYSE AA opened at $61.28 on Wednesday. The stock has a market cap of $16.17 billion, a P/E ratio of 13.86 and a beta of 1.85. The firm’s 50-day simple moving average is $60.87 and its 200 day simple moving average is $46.29. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $68.40. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. Alcoa’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.04 EPS. Equities analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.40 annualized dividend and a yield of 0.7%. Alcoa’s payout ratio is presently 9.05%.

Wall Street Analyst Weigh In

AA has been the subject of several analyst reports. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Friday, February 13th. B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a research report on Friday, January 23rd. Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. JPMorgan Chase & Co. restated an “underweight” rating and issued a $50.00 target price (up from $45.00) on shares of Alcoa in a research report on Thursday, January 8th. Finally, UBS Group raised their price target on shares of Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.45.

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.