Moran Wealth Management LLC Purchases 11,346 Shares of Alcoa $AA

Moran Wealth Management LLC grew its holdings in shares of Alcoa (NYSE:AA) by 22.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 60,862 shares of the industrial products company’s stock after purchasing an additional 11,346 shares during the quarter. Moran Wealth Management LLC’s holdings in Alcoa were worth $4,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. NewEdge Advisors LLC boosted its stake in shares of Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Alcoa by 0.7% in the 1st 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 worth $19,722,000 after purchasing an additional 4,624 shares in the last quarter. Invesco Ltd. raised its holdings in Alcoa by 1.9% in the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after purchasing an additional 12,008 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares during the period. Finally, First Trust Advisors LP raised its holdings in Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 205,717 shares during the period.

Alcoa Stock Down 0.0%

AA opened at $48.66 on Monday. The stock has a market cap of $12.84 billion, a price-to-earnings ratio of 12.32 and a beta of 1.63. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The firm’s fifty day moving average is $64.86 and its 200 day moving average is $62.76. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA) last issued its quarterly 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 business had revenue of $3.19 billion during 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 company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.15 EPS. On average, sell-side analysts forecast that Alcoa will post 7.41 earnings per share 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 given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Analyst Upgrades and Downgrades

AA has been the subject of several recent research reports. Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. BMO Capital Markets raised their price objective on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. UBS Group lowered their price objective on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a research note on Wednesday. Finally, Argus set a $73.00 target price on shares of Alcoa in a report on Monday, April 27th. Six equities 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.82.

About Alcoa

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.