Alcoa $AA Position Boosted by Mirabella Financial Services LLP

Mirabella Financial Services LLP lifted its position in shares of Alcoa (NYSE:AA) by 12,233.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,082,462 shares of the industrial products company’s stock after buying an additional 39,757,462 shares during the period. Alcoa makes up about 41.3% of Mirabella Financial Services LLP’s holdings, making the stock its biggest holding. Mirabella Financial Services LLP owned 0.15% of Alcoa worth $1,318,312,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of Alcoa by 1,098.0% in the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Alcoa by 0.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after buying an additional 4,624 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Alcoa by 29.0% during the second quarter. Envestnet Asset Management Inc. now owns 17,487 shares of the industrial products company’s stock valued at $516,000 after buying an additional 3,926 shares in the last quarter. Savant Capital LLC grew its stake in Alcoa by 7.2% during the second quarter. Savant Capital LLC now owns 8,711 shares of the industrial products company’s stock worth $257,000 after buying an additional 582 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in Alcoa during the second quarter worth approximately $270,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AA. Citigroup raised their target price on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. UBS Group boosted their price objective on Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alcoa currently has an average rating of “Hold” and an average target price of $50.45.

Alcoa Price Performance

Shares of AA stock opened at $66.67 on Tuesday. The firm has a fifty day simple moving average of $61.64 and a 200-day simple moving average of $47.24. The company has a market capitalization of $17.59 billion, a PE ratio of 15.08 and a beta of 1.85. Alcoa has a twelve month low of $21.53 and a twelve month high of $68.40. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. The firm had revenue of $6.75 billion for 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%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.04 EPS. Equities research analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. Alcoa’s dividend payout ratio is currently 9.05%.

Alcoa 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.