CoreCommodity Management LLC Purchases 13,967 Shares of Alcoa Co. (NYSE:AA)

CoreCommodity Management LLC raised its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 17.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,811 shares of the industrial products company's stock after buying an additional 13,967 shares during the period. Alcoa comprises about 0.7% of CoreCommodity Management LLC's investment portfolio, making the stock its 23rd biggest holding. CoreCommodity Management LLC's holdings in Alcoa were worth $3,469,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in AA. Bessemer Group Inc. increased its position in Alcoa by 77.1% during the 4th 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 period. SBI Securities Co. Ltd. purchased a new stake in Alcoa in the fourth quarter worth about $29,000. Smartleaf Asset Management LLC boosted its position in Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 393 shares in the last quarter. UMB Bank n.a. grew its holdings 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 worth $51,000 after acquiring an additional 598 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Alcoa by 399.0% in the 4th 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 in the last quarter. Institutional investors own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AA. StockNews.com upgraded Alcoa from a "hold" rating to a "buy" rating in a report on Friday, April 18th. JPMorgan Chase & Co. decreased their target price on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Bank of America restated an "underperform" rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. HC Wainwright lifted their price objective on Alcoa to $90.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, UBS Group cut their target price on Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $44.17.

Alcoa Stock Performance

AA stock traded up $0.17 on Friday, hitting $25.89. The company had a trading volume of 6,133,063 shares, compared to its average volume of 5,453,120. The stock has a market cap of $6.70 billion, a price-to-earnings ratio of -161.81, a P/E/G ratio of 0.19 and a beta of 2.29. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The stock's 50-day simple moving average is $28.13 and its 200 day simple moving average is $35.39. Alcoa Co. has a 12-month low of $21.53 and a 12-month high of $47.77.

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

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.54%. Alcoa's payout ratio is presently 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.