Appian Way Asset Management LP Increases Position in Alcoa Co. (NYSE:AA)

Appian Way Asset Management LP boosted its holdings in Alcoa Co. (NYSE:AA - Free Report) by 92.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,418 shares of the industrial products company's stock after acquiring an additional 32,418 shares during the quarter. Alcoa accounts for about 0.5% of Appian Way Asset Management LP's investment portfolio, making the stock its 20th biggest position. Appian Way Asset Management LP's holdings in Alcoa were worth $2,547,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AA. Jefferies Financial Group lowered their price objective on 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 decreased their target price 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 Morgan Stanley dropped their price objective 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. Bank of America reissued an "underperform" rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price target on Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One 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's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $44.17.

Alcoa Price Performance

Shares of NYSE AA traded up $1.05 during trading on Friday, hitting $25.59. The company had a trading volume of 5,393,430 shares, compared to its average volume of 5,413,334. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $28.87 and a two-hundred day simple moving average of $35.91. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of -159.94, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA - Get Free Report) last released 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 company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. On average, research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

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

Alcoa Company 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.