Prospera Financial Services Inc increased its stake in Alcoa (NYSE:AA – Free Report) by 181.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,374 shares of the industrial products company’s stock after purchasing an additional 21,497 shares during the period. Prospera Financial Services Inc’s holdings in Alcoa were worth $1,774,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. Mirabella Financial Services LLP increased its stake in Alcoa by 12,233.1% in the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after acquiring an additional 39,757,462 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Alcoa by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company’s stock worth $365,710,000 after purchasing an additional 1,322,540 shares during the last quarter. Man Group plc lifted its stake in Alcoa by 12,588.2% during the third quarter. Man Group plc now owns 1,164,902 shares of the industrial products company’s stock worth $38,314,000 after purchasing an additional 1,155,721 shares during the last quarter. L1 Capital Pty Ltd lifted its stake in Alcoa by 22.3% during the third quarter. L1 Capital Pty Ltd now owns 5,887,699 shares of the industrial products company’s stock worth $193,646,000 after purchasing an additional 1,073,357 shares during the last quarter. Finally, State Street Corp lifted its stake in Alcoa by 9.8% during the second quarter. State Street Corp now owns 10,737,466 shares of the industrial products company’s stock worth $316,863,000 after purchasing an additional 959,240 shares during the last quarter.
Alcoa Price Performance
AA stock opened at $73.04 on Thursday. The company has a 50 day simple moving average of $66.19 and a 200 day simple moving average of $58.35. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 18.49 and a beta of 1.51. Alcoa has a 1 year low of $25.83 and a 1 year high of $75.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88.
Alcoa Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 19th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Alcoa’s payout ratio is currently 10.13%.
Wall Street Analyst Weigh In
Several research firms have weighed in on AA. B. Riley Financial upped their target price on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Argus set a $73.00 price objective on Alcoa in a research report on Monday, April 27th. Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, UBS Group upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $75.00 to $80.00 in a research report on Friday, May 22nd. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.60.
Check Out Our Latest Stock Report on Alcoa
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.
See Also
- Five stocks we like better than Alcoa
- Abercrombie Rallies as Strong Q1 Earnings Extend Winning Streak
- TeraWulf Bets on Power Infrastructure to Lead AI Build-Out
- Amazon’s Alexa for Shopping Strengthens an Already Strong Bull Case
- Keysight: The AI and Defense Stock Seeing Big Price Target Boosts
Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.
