Jackson Creek Investment Advisors LLC acquired a new position in Alcoa (NYSE:AA – Free Report) during the 4th quarter, HoldingsChannel reports. The fund acquired 30,580 shares of the industrial products company’s stock, valued at approximately $1,625,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Raleigh Capital Management Inc. lifted its holdings in Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after buying an additional 525 shares during the period. CoreCap Advisors LLC raised its holdings 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 during the last quarter. Clearstead Trust LLC raised its holdings in shares of Alcoa by 431.7% in the 4th quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 613 shares during the last quarter. Hilltop National Bank bought a new stake in Alcoa in the 4th quarter worth about $40,000. Finally, True Wealth Design LLC grew its position in Alcoa by 2,281.3% in 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 in the last quarter.
Alcoa Price Performance
Shares of Alcoa stock opened at $74.55 on Wednesday. The firm has a market cap of $19.67 billion, a PE ratio of 18.87 and a beta of 1.51. Alcoa has a 12-month low of $25.83 and a 12-month high of $75.70. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The company’s fifty day simple moving average is $66.07 and its two-hundred day simple moving average is $58.09.
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 paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Alcoa’s payout ratio is presently 10.13%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $64.00 to $80.00 in a report on Thursday, April 9th. Argus set a $73.00 price target on shares of Alcoa in a report on Monday, April 27th. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Finally, Citigroup raised their price objective on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.60.
View Our Latest Analysis on Alcoa
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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