15,374 Shares in Alcoa $AA Bought by Sowell Financial Services LLC

Sowell Financial Services LLC purchased a new stake in Alcoa (NYSE:AA) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,374 shares of the industrial products company’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc increased its stake in Alcoa by 134.7% during the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 520 shares during the period. Montag A & Associates Inc. bought a new position in Alcoa during the 1st quarter valued at about $40,000. Quarry LP bought a new position in shares of Alcoa in the first quarter valued at approximately $57,000. GAMMA Investing LLC boosted its stake in Alcoa by 58.8% in the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 851 shares in the last quarter. Finally, Banque Transatlantique SA bought a new stake in Alcoa during the 1st quarter worth about $74,000.

Alcoa Stock Performance

NYSE AA opened at $31.23 on Thursday. The firm has a market capitalization of $8.08 billion, a P/E ratio of 8.15, a price-to-earnings-growth ratio of 0.18 and a beta of 2.26. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $31.16 and its two-hundred day moving average price is $29.34. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The company had revenue of $3.02 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the business earned $0.16 EPS. Alcoa’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, August 12th. Alcoa’s payout ratio is currently 10.44%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. B. Riley increased their price objective on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Citigroup raised Alcoa to a “buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, July 8th. Morgan Stanley cut their price objective on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Finally, Bank of America boosted their target price on Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a research note on Thursday, July 17th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Alcoa has an average rating of “Hold” and an average price target of $42.27.

Alcoa Profile

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.