Global Retirement Partners LLC Invests $242,000 in Alcoa $AA

Global Retirement Partners LLC bought a new stake in shares of Alcoa (NYSE:AA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 8,198 shares of the industrial products company’s stock, valued at approximately $242,000.

Several other large investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its position in Alcoa by 1,096.0% during the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after buying an additional 822 shares during the period. Horrell Capital Management Inc. purchased a new stake in shares of Alcoa during the 2nd quarter worth about $30,000. Quarry LP acquired a new stake in shares of Alcoa during the 1st quarter valued at about $57,000. Banque Transatlantique SA purchased a new position in shares of Alcoa in the 1st quarter valued at about $74,000. Finally, Hantz Financial Services Inc. increased its stake in shares of Alcoa by 357.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock valued at $78,000 after purchasing an additional 2,076 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Argus set a $45.00 price target on Alcoa in a research report on Thursday, October 30th. Wells Fargo & Company started coverage on Alcoa in a research report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 target price on the stock. B. Riley boosted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. HSBC upped their price objective on shares of Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, UBS Group lifted their target price on shares of Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Moderate Buy” and an average target price of $42.35.

Alcoa Trading Down 0.2%

Shares of AA stock opened at $41.64 on Tuesday. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $46.78. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. The stock’s fifty day moving average is $36.80 and its two-hundred day moving average is $32.45. The firm has a market capitalization of $10.78 billion, a P/E ratio of 9.62, a PEG ratio of 0.22 and a beta of 1.99.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.57 earnings per share. Research analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s dividend payout ratio (DPR) is 9.24%.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.