Pinebridge Investments L.P. Purchases 16,429 Shares of Alcoa Co. (NYSE:AA)

Pinebridge Investments L.P. boosted its position in Alcoa Co. (NYSE:AA - Free Report) by 42.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,917 shares of the industrial products company's stock after buying an additional 16,429 shares during the quarter. Pinebridge Investments L.P.'s holdings in Alcoa were worth $2,075,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AA. Wilmington Savings Fund Society FSB acquired a new position in Alcoa during the third quarter worth $239,000. Synovus Financial Corp acquired a new position in shares of Alcoa during the 3rd quarter worth about $456,000. Retirement Systems of Alabama raised its holdings in shares of Alcoa by 41.6% in the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company's stock valued at $12,107,000 after purchasing an additional 92,201 shares during the period. Confluence Investment Management LLC lifted its stake in Alcoa by 7.2% in the 4th quarter. Confluence Investment Management LLC now owns 13,999 shares of the industrial products company's stock valued at $529,000 after purchasing an additional 936 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock worth $55,000 after purchasing an additional 1,157 shares during the period. Institutional investors own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AA shares. B. Riley cut their price objective on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Bank of America reaffirmed an "underperform" rating and set a $26.00 price objective (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. StockNews.com raised shares of Alcoa from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. BMO Capital Markets lifted their target price on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Finally, Morgan Stanley decreased their price target on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Alcoa currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.17.

Alcoa Price Performance

AA stock traded down $0.07 during midday trading on Thursday, reaching $24.46. The company had a trading volume of 5,124,055 shares, compared to its average volume of 5,427,070. Alcoa Co. has a 1-year low of $21.53 and a 1-year high of $47.77. The stock has a 50 day moving average price of $29.26 and a 200-day moving average price of $36.18. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -152.89, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The business had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.58 billion. Equities research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.64%. The ex-dividend date was Tuesday, March 4th. Alcoa's dividend payout ratio (DPR) is presently 12.05%.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.