RFG Advisory LLC Invests $1.54 Million in Alcoa $AA

RFG Advisory LLC acquired a new position in shares of Alcoa (NYSE:AAFree Report) during the 1st quarter, Holdings Channel.com reports. The firm acquired 23,293 shares of the industrial products company’s stock, valued at approximately $1,545,000.

Other large investors have also modified their holdings of the company. NewEdge Advisors LLC raised its position in shares of Alcoa by 1,098.0% in the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Alcoa by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after purchasing an additional 4,624 shares during the last quarter. Invesco Ltd. grew its position in Alcoa by 1.9% during the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after purchasing an additional 12,008 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Alcoa by 173.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after acquiring an additional 205,717 shares during the period.

Alcoa Stock Up 1.8%

Shares of NYSE:AA opened at $54.04 on Friday. 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 business has a fifty day moving average of $66.62 and a two-hundred day moving average of $62.46. The stock has a market cap of $14.26 billion, a P/E ratio of 13.68 and a beta of 1.56. Alcoa has a 52-week low of $27.72 and a 52-week high of $84.38.

Alcoa (NYSE:AAGet Free Report) last issued its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the business earned $2.15 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. On average, research analysts expect that Alcoa will post 7.54 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is presently 10.13%.

Analyst Ratings Changes

AA has been the subject of a number of recent research reports. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. BMO Capital Markets upped their price target on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. B. Riley Financial raised their target price on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company lowered their price target on Alcoa from $82.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.80.

Read Our Latest Analysis on Alcoa

Alcoa Company Profile

(Free Report)

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

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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