Lombard Odier Asset Management Europe Ltd Has $4.40 Million Stake in Alcoa Co. (NYSE:AA)

Lombard Odier Asset Management Europe Ltd boosted its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 371.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,673 shares of the industrial products company's stock after purchasing an additional 87,222 shares during the period. Lombard Odier Asset Management Europe Ltd owned 0.06% of Alcoa worth $4,403,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Alcoa by 4.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 37,158 shares of the industrial products company's stock worth $1,263,000 after purchasing an additional 1,676 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company's stock valued at $55,000 after buying an additional 576 shares during the period. Norges Bank purchased a new position in shares of Alcoa during the 4th quarter valued at $45,730,000. D.A. Davidson & CO. acquired a new position in shares of Alcoa in the fourth quarter worth $246,000. Finally, Quest Partners LLC purchased a new stake in shares of Alcoa during the fourth quarter worth $40,000. 82.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on AA. Bank of America dropped their target price on Alcoa from $46.00 to $43.00 and set a "neutral" rating on the stock in a research report on Thursday, July 18th. Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective on the stock in a report on Wednesday, September 4th. StockNews.com lowered shares of Alcoa from a "hold" rating to a "sell" rating in a research report on Friday. UBS Group boosted their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, B. Riley Financial restated a "neutral" rating and set a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $40.45.

Alcoa Stock Performance

Shares of NYSE:AA traded up $0.38 during midday trading on Monday, hitting $34.21. The company's stock had a trading volume of 4,165,260 shares, compared to its average volume of 6,027,980. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The stock's 50 day simple moving average is $32.51 and its 200 day simple moving average is $35.77. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the firm posted ($0.35) EPS. The company's revenue was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Alcoa Co. will post 0.7 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa's dividend payout ratio (DPR) is presently -10.64%.

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.