16,491 Shares in Alcoa $AA Acquired by Aster Capital Management DIFC Ltd

Aster Capital Management DIFC Ltd acquired a new stake in Alcoa (NYSE:AA) during the third quarter, HoldingsChannel reports. The fund acquired 16,491 shares of the industrial products company’s stock, valued at approximately $542,000.

A number of other institutional investors have also recently bought and sold shares of the business. Twin Capital Management Inc. lifted its stake in shares of Alcoa by 1.8% in the 2nd quarter. Twin Capital Management Inc. now owns 19,137 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 344 shares during the period. Lesa Sroufe & Co grew its stake in shares of Alcoa by 0.5% during the third quarter. Lesa Sroufe & Co now owns 75,504 shares of the industrial products company’s stock worth $2,483,000 after purchasing an additional 349 shares during the period. Nisa Investment Advisors LLC increased its holdings in Alcoa by 3.2% in the third quarter. Nisa Investment Advisors LLC now owns 11,581 shares of the industrial products company’s stock valued at $381,000 after purchasing an additional 362 shares during the last quarter. State of Michigan Retirement System increased its holdings in Alcoa by 0.6% in the second quarter. State of Michigan Retirement System now owns 62,275 shares of the industrial products company’s stock valued at $1,838,000 after purchasing an additional 400 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Alcoa by 4.0% in the second quarter. Captrust Financial Advisors now owns 11,617 shares of the industrial products company’s stock valued at $343,000 after buying an additional 452 shares during the period.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AA. Citigroup boosted their target price on Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Argus set a $45.00 price objective on shares of Alcoa in a research note on Thursday, October 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $50.00 target price (up from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Finally, Wells Fargo & Company reduced their price target on shares of Alcoa from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.25.

Alcoa Trading Down 2.2%

Alcoa stock opened at $63.44 on Friday. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 14.35 and a beta of 1.91. The firm has a 50-day moving average of $59.56 and a 200-day moving average of $44.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. Alcoa has a one year low of $21.53 and a one year high of $66.95.

Alcoa (NYSE:AA) last released its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.31. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.Alcoa’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.04 earnings per share. On average, equities analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, March 10th. Alcoa’s dividend payout ratio (DPR) is 9.05%.

Alcoa Company 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.