Bleakley Financial Group LLC Makes New $541,000 Investment in Alcoa $AA

Bleakley Financial Group LLC acquired a new position in Alcoa (NYSE:AA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,177 shares of the industrial products company’s stock, valued at approximately $541,000.

Other large investors have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in shares of Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after buying an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alcoa by 0.7% in the first 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 valued at $19,722,000 after buying an additional 4,624 shares in the last quarter. Invesco Ltd. increased its position in shares of Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after buying an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after buying 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 second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after buying an additional 205,717 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AA shares. BMO Capital Markets raised their price target on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $64.00 to $80.00 in a research report on Thursday, April 9th. Zacks Research cut Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Finally, B. Riley Financial lifted their price objective on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Alcoa presently has a consensus rating of “Hold” and a consensus price target of $68.60.

Alcoa Stock Performance

Shares of NYSE:AA opened at $77.59 on Friday. The company has a market cap of $20.48 billion, a P/E ratio of 19.64 and a beta of 1.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a one year low of $25.83 and a one year high of $77.72. The business’s 50-day simple moving average is $66.66 and its 200 day simple moving average is $58.75.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.Alcoa’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.15 earnings per share. On average, sell-side analysts forecast that Alcoa will post 7.95 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. Alcoa’s dividend payout ratio is presently 10.13%.

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.