Rockefeller Capital Management L.P. Increases Holdings in Alcoa $AA

Rockefeller Capital Management L.P. lifted its holdings in Alcoa (NYSE:AA) by 4,124.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,233 shares of the industrial products company’s stock after acquiring an additional 37,328 shares during the period. Rockefeller Capital Management L.P.’s holdings in Alcoa were worth $2,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Basepoint Wealth LLC purchased a new stake in Alcoa during the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. increased its position in shares of Alcoa by 52,500.0% during the 4th 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 during the last quarter. CoreCap Advisors LLC increased its position in shares of Alcoa by 74.1% during the 4th 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 during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after buying an additional 581 shares during the period. Finally, Quarry LP raised its holdings in Alcoa by 96.0% during the 4th quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after buying an additional 340 shares during the period.

Alcoa Stock Performance

AA stock opened at $53.45 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The business’s fifty day simple moving average is $66.28 and its two-hundred day simple moving average is $62.66. Alcoa has a twelve month low of $28.11 and a twelve month high of $84.38. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 13.53 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.15 earnings per share. Analysts predict that Alcoa will post 7.54 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio is currently 10.13%.

Analysts Set New Price Targets

Several research firms have commented on AA. Wells Fargo & Company dropped their price objective on shares of Alcoa from $82.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Friday, May 22nd. JPMorgan Chase & Co. upped their price target on shares of Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Morgan Stanley set a $79.00 price objective on shares of Alcoa in a research report on Thursday, June 11th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $68.80.

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.