Daiwa Securities Group Inc. Purchases Shares of 179,221 Alcoa $AA

Daiwa Securities Group Inc. purchased a new stake in Alcoa (NYSE:AA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 179,221 shares of the industrial products company’s stock, valued at approximately $9,524,000. Daiwa Securities Group Inc. owned approximately 0.07% of Alcoa as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AA. Basepoint Wealth LLC bought a new position in Alcoa in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC bought a new position in Alcoa in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. grew its stake in Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares in the last quarter. CoreCap Advisors LLC grew its stake in Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Alcoa by 91.9% in the third quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 556 shares in the last quarter.

Analysts Set New Price Targets

AA has been the subject of a number of analyst reports. Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. B. Riley Financial raised their price target on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Weiss Ratings downgraded Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Finally, Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $64.00 to $80.00 in a research note on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.60.

Alcoa Stock Performance

Shares of NYSE AA opened at $71.81 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Alcoa has a 12 month low of $27.72 and a 12 month high of $84.38. The stock has a 50 day moving average of $68.79 and a 200-day moving average of $60.16. The company has a market capitalization of $18.95 billion, a P/E ratio of 18.18 and a beta of 1.56.

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

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is currently 10.13%.

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.