Qsemble Capital Management LP purchased a new position in shares of Alcoa (NYSE:AA – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 82,048 shares of the industrial products company’s stock, valued at approximately $4,360,000.
Other large investors also recently made changes to their positions in the company. Raleigh Capital Management Inc. lifted its stake in shares of 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 period. CoreCap Advisors LLC lifted its stake in shares of 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 period. Hilltop National Bank purchased a new position in shares of Alcoa during the 4th quarter worth $40,000. True Wealth Design LLC lifted its stake in shares of Alcoa by 2,281.3% during the 4th quarter. True Wealth Design LLC now owns 762 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 730 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Alcoa during the 3rd quarter worth $27,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.
Alcoa Trading Down 5.4%
Shares of AA opened at $62.45 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $16.48 billion, a P/E ratio of 15.81 and a beta of 1.51. The stock’s fifty day simple moving average is $65.35 and its 200 day simple moving average is $56.47. Alcoa has a twelve month low of $25.83 and a twelve month high of $75.70.
Alcoa Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 19th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is 10.13%.
Wall Street Analyst Weigh In
AA has been the topic of a number of recent analyst reports. Wells Fargo & Company set a $68.00 price target on Alcoa in a research note on Thursday, March 12th. Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Argus set a $73.00 price target on Alcoa in a research note on Monday, April 27th. Citigroup increased their price target on Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, Zacks Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Four research 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.com, the company has an average rating of “Hold” and an average price target of $67.60.
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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