Cookson Peirce & Co. Inc. Takes $478,000 Position in Alcoa $AA

Cookson Peirce & Co. Inc. acquired a new stake in Alcoa (NYSE:AA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,986 shares of the industrial products company’s stock, valued at approximately $478,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AA. Basepoint Wealth LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Alcoa in the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. increased its position in shares of 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 buying an additional 525 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of 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 buying an additional 237 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of 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 buying an additional 556 shares in the last quarter.

Analyst Upgrades and Downgrades

AA has been the subject of a number of recent analyst reports. UBS Group upgraded Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $80.00 in a research report on Friday, May 22nd. Citigroup boosted their price objective on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. B. Riley Financial boosted their price objective on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. boosted their price target on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.60.

Alcoa Stock Up 2.2%

Shares of AA opened at $73.50 on Tuesday. 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 $27.72 and a one year high of $84.38. The stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of 18.61 and a beta of 1.56. The stock has a 50 day moving average price of $69.11 and a 200 day moving average price of $60.59.

Alcoa (NYSE:AA) last issued its quarterly 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). The firm 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%.The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.15 earnings per share. Equities research analysts forecast that Alcoa will post 7.95 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Alcoa’s payout ratio is 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.