Chesapeake Capital Corp IL Takes $330,000 Position in Alcoa Co. (NYSE:AA)

Chesapeake Capital Corp IL purchased a new position in Alcoa Co. (NYSE:AA) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 8,285 shares of the industrial products company’s stock, valued at approximately $330,000.

A number of other large investors have also added to or reduced their stakes in AA. ANTIPODES PARTNERS Ltd purchased a new stake in Alcoa during the second quarter valued at approximately $93,061,000. L1 Capital Pty Ltd acquired a new position in shares of Alcoa during the first quarter worth $72,658,000. Norges Bank acquired a new stake in shares of Alcoa in the 4th quarter worth $45,730,000. Dimensional Fund Advisors LP boosted its position in shares of Alcoa by 34.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,312,340 shares of the industrial products company’s stock worth $146,626,000 after purchasing an additional 1,104,423 shares in the last quarter. Finally, ARGA Investment Management LP grew its stake in Alcoa by 202.2% during the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after buying an additional 997,912 shares during the last quarter.

Alcoa Stock Up 1.5 %

Alcoa stock opened at $28.97 on Tuesday. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $45.48. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of -7.70 and a beta of 2.42. The business’s 50-day moving average price is $33.97 and its 200 day moving average price is $35.41. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the company earned ($0.35) EPS. The business’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Alcoa Co. will post 0.7 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.38%. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley decreased their price target on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Bank of America dropped their target price on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. B. Riley raised their price target on shares of Alcoa from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Citigroup boosted their price objective on shares of Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Alcoa presently has a consensus rating of “Hold” and a consensus price target of $39.09.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.