Havemeyer Place LP Takes Position in Alcoa $AA

Havemeyer Place LP bought a new stake in Alcoa (NYSE:AA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,242 shares of the industrial products company’s stock, valued at approximately $704,000.

A number of other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of 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 worth $19,722,000 after purchasing an additional 4,624 shares during the period. Invesco Ltd. lifted its holdings in shares of Alcoa by 1.9% in the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after purchasing an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after purchasing an additional 205,717 shares during the period.

Alcoa Trading Up 2.2%

NYSE AA opened at $73.50 on Tuesday. The firm has a market capitalization of $19.40 billion, a P/E ratio of 18.61 and a beta of 1.56. The business has a fifty day simple moving average of $69.11 and a 200 day simple moving average of $60.59. Alcoa has a 12 month low of $27.72 and a 12 month high of $84.38. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the firm earned $2.15 earnings per share. Alcoa’s revenue was down 5.2% compared to the same quarter last year. On average, analysts predict that Alcoa will post 7.95 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 annualized dividend and a yield of 0.5%. Alcoa’s payout ratio is 10.13%.

Analyst Ratings Changes

A number of analysts have commented on AA shares. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a research note on Thursday, March 12th. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Argus set a $73.00 target price on shares of Alcoa in a research report on Monday, April 27th. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $64.00 to $80.00 in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Alcoa presently has an average rating of “Hold” and an average price target of $68.60.

About Alcoa

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.