Bull Harbor Capital LLC purchased a new stake in Alcoa (NYSE:AA – Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,887 shares of the industrial products company’s stock, valued at approximately $921,000.
Several other hedge funds have also added to or reduced their stakes in AA. Checchi Capital Advisers LLC boosted its position in Alcoa by 3.4% during the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 170 shares during the period. Prime Capital Investment Advisors LLC lifted its stake in shares of Alcoa by 1.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after buying an additional 204 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Alcoa by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after buying an additional 229 shares during the last quarter. CoreCap Advisors LLC boosted its holdings 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 buying an additional 237 shares during the period. Finally, Crossmark Global Holdings Inc. raised its holdings in Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock valued at $722,000 after acquiring an additional 241 shares during the period.
Alcoa Stock Up 4.8%
Shares of NYSE AA opened at $44.94 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a 52 week low of $28.11 and a 52 week high of $84.38. The stock has a market capitalization of $11.86 billion, a P/E ratio of 9.25, a PEG ratio of 0.48 and a beta of 1.63. The stock’s fifty day moving average is $57.96 and its 200 day moving average is $61.61.
Alcoa Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Alcoa’s payout ratio is presently 8.23%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on AA shares. B. Riley Financial decreased their target price on Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Wells Fargo & Company lowered their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Finally, Bank of America cut their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, July 9th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Alcoa has a consensus rating of “Hold” and a consensus target price of $61.09.
Get Our Latest Stock Analysis on AA
Alcoa Profile
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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