55,156 Shares in Alcoa Co. (NYSE:AA) Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC purchased a new stake in Alcoa Co. (NYSE:AA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 55,156 shares of the industrial products company's stock, valued at approximately $2,194,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in shares of Alcoa in the 4th quarter worth approximately $39,000. Quest Partners LLC bought a new position in shares of Alcoa in the 4th quarter worth $40,000. Toronto Dominion Bank lifted its stake in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company's stock worth $57,000 after purchasing an additional 1,592 shares during the last quarter. Fifth Third Bancorp boosted its position in Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 309 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in Alcoa in the first quarter valued at about $101,000. Institutional investors own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AA. Bank of America lowered their price target on shares of Alcoa from $46.00 to $43.00 and set a "neutral" rating on the stock in a report on Thursday, July 18th. StockNews.com lowered shares of Alcoa from a "hold" rating to a "sell" rating in a report on Friday, September 20th. Morgan Stanley reduced their price target on Alcoa from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, July 22nd. B. Riley Financial reissued a "neutral" rating and issued a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Finally, B. Riley upped their target price on Alcoa from $37.00 to $41.00 and gave the company a "neutral" rating in a research report on Tuesday, September 17th. One 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. According to data from MarketBeat.com, Alcoa currently has a consensus rating of "Hold" and a consensus price target of $40.82.

Alcoa Stock Performance

Alcoa stock traded down $0.01 during trading hours on Friday, hitting $39.27. 5,633,106 shares of the stock traded hands, compared to its average volume of 6,060,270. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $45.48. The stock has a market capitalization of $7.05 billion, a price-to-earnings ratio of -10.44 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The firm's 50 day moving average price is $32.51 and its 200-day moving average price is $35.97.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. Alcoa's quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Alcoa Co. will post 0.56 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.02%. Alcoa's dividend payout ratio (DPR) is presently -10.64%.

Alcoa Company 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.