Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Alcoa (NYSE:AA – Free Report) by 58.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 41,950 shares of the industrial products company’s stock after buying an additional 15,450 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Alcoa were worth $2,229,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AA. Advisory Services Network LLC bought a new stake in Alcoa during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. raised its holdings in Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the last quarter. Root Financial Partners LLC bought a new stake in Alcoa during the 3rd quarter worth about $29,000. CoreCap Advisors LLC raised its holdings in Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in Alcoa during the 3rd quarter worth about $33,000.
Alcoa Price Performance
Alcoa stock opened at $62.45 on Friday. The firm has a market capitalization of $16.48 billion, a P/E ratio of 15.81 and a beta of 1.51. Alcoa has a 1 year low of $25.83 and a 1 year high of $75.70. The business has a 50-day moving average of $65.35 and a 200-day moving average of $56.47. 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 Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, May 19th. Alcoa’s payout ratio is presently 10.13%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on AA. B. Riley Financial boosted their price objective on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $64.00 to $80.00 in a report on Thursday, April 9th. Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Argus set a $73.00 price objective on Alcoa in a report on Monday, April 27th. Finally, Citigroup boosted their target price on Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Alcoa presently has an average rating of “Hold” and a consensus target price of $67.60.
Check Out Our Latest Stock Report on AA
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.
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