Canada Pension Plan Investment Board Buys 65,000 Shares of Alcoa Co. (NYSE:AA)

Canada Pension Plan Investment Board boosted its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 59.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 174,200 shares of the industrial products company's stock after purchasing an additional 65,000 shares during the period. Canada Pension Plan Investment Board owned 0.07% of Alcoa worth $6,581,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AA. Bessemer Group Inc. lifted its stake in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after acquiring an additional 296 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Alcoa during the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its position in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after buying an additional 393 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after buying an additional 598 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Alcoa by 399.0% in the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock worth $55,000 after acquiring an additional 1,157 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AA has been the subject of a number of recent research reports. JPMorgan Chase & Co. cut their price target on Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Jefferies Financial Group decreased their target price on shares of Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, January 6th. B. Riley cut their price target on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M UBS Group decreased their price objective on shares of Alcoa from $47.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Finally, StockNews.com upgraded Alcoa from a "hold" rating to a "buy" rating in a report on Friday, April 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $44.17.

Alcoa Stock Performance

AA traded down $0.75 during midday trading on Friday, reaching $25.69. The company's stock had a trading volume of 5,292,757 shares, compared to its average volume of 5,430,605. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77. The stock has a market cap of $6.65 billion, a P/E ratio of -160.56, a PEG ratio of 0.19 and a beta of 2.28. The company has a fifty day simple moving average of $29.91 and a 200 day simple moving average of $36.45. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $3.58 billion. Research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a $0.10 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.56%. Alcoa's dividend payout ratio is currently 12.05%.

Alcoa Profile

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.