Concentric Capital Strategies LP Purchases 21,272 Shares of Alcoa Co. (NYSE:AA)

Concentric Capital Strategies LP boosted its stake in Alcoa Co. (NYSE:AA - Free Report) by 39.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,548 shares of the industrial products company's stock after purchasing an additional 21,272 shares during the period. Concentric Capital Strategies LP's holdings in Alcoa were worth $2,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CoreCommodity Management LLC increased its stake in shares of Alcoa by 17.9% in the fourth quarter. CoreCommodity Management LLC now owns 91,811 shares of the industrial products company's stock worth $3,469,000 after buying an additional 13,967 shares during the period. Centiva Capital LP purchased a new position in shares of Alcoa in the fourth quarter valued at about $2,044,000. Captrust Financial Advisors raised its stake in shares of Alcoa by 5.8% during the fourth quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock valued at $248,000 after acquiring an additional 361 shares during the last quarter. Bayesian Capital Management LP boosted its holdings in shares of Alcoa by 16.8% during the fourth quarter. Bayesian Capital Management LP now owns 48,200 shares of the industrial products company's stock worth $1,821,000 after purchasing an additional 6,943 shares during the period. Finally, Beaconlight Capital LLC grew its stake in shares of Alcoa by 11.7% in the fourth quarter. Beaconlight Capital LLC now owns 186,932 shares of the industrial products company's stock worth $7,062,000 after purchasing an additional 19,578 shares during the last quarter. Institutional investors own 82.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. BMO Capital Markets upped their price target on Alcoa to $43.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Morgan Stanley decreased their target price on Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. UBS Group cut their price target on shares of Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, StockNews.com raised shares of Alcoa from a "hold" rating to a "buy" rating in a research report on Friday, April 18th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Alcoa presently has an average rating of "Moderate Buy" and a consensus price target of $44.17.

Alcoa Stock Up 0.7 %

NYSE:AA traded up $0.17 during trading hours on Friday, reaching $25.89. 6,133,063 shares of the company traded hands, compared to its average volume of 5,456,785. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. The stock has a market capitalization of $6.70 billion, a P/E ratio of -161.81, a P/E/G ratio of 0.19 and a beta of 2.29. The business's 50-day moving average price is $28.13 and its two-hundred day moving average price is $35.34. 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 quarterly 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. The company had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Analysts predict that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.54%. Alcoa's payout ratio is 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.