Fairvoy Private Wealth LLC Makes New Investment in Alcoa $AA

Fairvoy Private Wealth LLC acquired a new position in Alcoa (NYSE:AA) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,653 shares of the industrial products company’s stock, valued at approximately $839,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Private Wealth Services LLC increased its stake in Alcoa by 9.1% in the 1st quarter. Kestra Private Wealth Services LLC now owns 15,690 shares of the industrial products company’s stock worth $1,041,000 after buying an additional 1,303 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Alcoa by 201.0% in the first quarter. Ritholtz Wealth Management now owns 59,125 shares of the industrial products company’s stock valued at $3,922,000 after acquiring an additional 39,484 shares in the last quarter. RFG Advisory LLC purchased a new position in shares of Alcoa in the first quarter valued at about $1,545,000. OP Asset Management Ltd bought a new position in shares of Alcoa in the first quarter worth about $197,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Alcoa in the first quarter worth about $32,751,000.

Analyst Ratings Changes

AA has been the topic of several recent analyst reports. Morgan Stanley set a $79.00 target price on Alcoa in a research note on Thursday, June 11th. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. B. Riley Financial increased their price objective on shares of Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Wells Fargo & Company cut their price objective on shares of Alcoa from $82.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday. Finally, BMO Capital Markets lifted their price objective on shares of Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.80.

Alcoa Price Performance

Shares of Alcoa stock opened at $52.91 on Friday. The stock has a 50 day moving average of $66.95 and a 200 day moving average of $62.52. Alcoa has a 12 month low of $27.72 and a 12 month high of $84.38. The firm has a market cap of $13.96 billion, a PE ratio of 13.40 and a beta of 1.56. 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 (NYSE:AA) last released its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the business earned $2.15 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, research analysts expect that Alcoa will post 8.48 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is 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.