Swiss Life Asset Management Ltd bought a new stake in shares of Alcoa (NYSE:AA – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,250 shares of the industrial products company’s stock, valued at approximately $370,000.
Several other institutional investors also recently bought and sold shares of AA. Advisory Services Network LLC acquired a new position in shares of Alcoa during the third quarter worth $27,000. Root Financial Partners LLC acquired a new stake in shares of Alcoa in the 3rd quarter worth $29,000. Orion Capital Management LLC acquired a new stake in shares of Alcoa in the 3rd quarter worth $33,000. Westfuller Advisors LLC acquired a new stake in shares of Alcoa in the 3rd quarter worth $35,000. Finally, NewEdge Advisors LLC grew its stake in Alcoa by 91.9% during the 3rd quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock worth $38,000 after buying an additional 556 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Citigroup raised their price target on Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a report on Thursday, March 12th. JPMorgan Chase & Co. raised shares of Alcoa from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $50.00 to $68.00 in a research report on Friday, March 13th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a research note on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.45.
Alcoa Trading Up 3.6%
Shares of NYSE:AA opened at $58.72 on Thursday. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. Alcoa has a 52-week low of $21.53 and a 52-week high of $68.40. The stock has a market cap of $15.49 billion, a price-to-earnings ratio of 13.28 and a beta of 1.85. The business has a 50-day moving average price of $61.03 and a 200-day moving average price of $48.49.
Alcoa (NYSE:AA – Get Free Report) last issued its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm earned $1.04 earnings per share. Alcoa’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts predict that Alcoa will post 4.43 EPS for the current year.
Alcoa Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. Alcoa’s dividend payout ratio is presently 9.05%.
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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