L & S Advisors Inc purchased a new position in shares of Alcoa (NYSE:AA – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 148,356 shares of the industrial products company’s stock, valued at approximately $7,884,000. L & S Advisors Inc owned 0.06% of Alcoa as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. Prime Capital Investment Advisors LLC grew its stake in shares of Alcoa by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after acquiring an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Alcoa by 0.4% in 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 acquiring an additional 229 shares in the last quarter. CoreCap Advisors LLC grew its stake in shares of Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Crossmark Global Holdings Inc. grew its stake in shares of Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after acquiring an additional 241 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Alcoa by 1.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock worth $740,000 after acquiring an additional 324 shares in the last quarter.
Analyst Ratings Changes
AA has been the subject of several recent analyst reports. Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a research note on Thursday, March 12th. Citigroup upped their target price on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $64.00 to $80.00 in a research note on Thursday, April 9th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.60.
Alcoa Price Performance
AA opened at $62.45 on Friday. The firm has a market cap of $16.48 billion, a P/E ratio of 15.81 and a beta of 1.51. The firm has a 50-day moving average of $65.35 and a 200 day moving average of $56.47. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a fifty-two week low of $25.83 and a fifty-two week high of $75.70.
Alcoa (NYSE:AA – Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. Alcoa’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 EPS. On average, research analysts expect that Alcoa will post 7.95 EPS for the current year.
Alcoa Announces Dividend
The business also recently declared 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 annualized dividend and a yield of 0.6%. Alcoa’s dividend payout ratio is presently 10.13%.
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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