Alcoa Co. (NYSE:AA) Shares Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 289.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 21,498 shares of the industrial products company's stock after purchasing an additional 15,971 shares during the period. Dark Forest Capital Management LP's holdings in Alcoa were worth $812,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Alcoa in the 4th quarter worth about $259,273,000. ARGA Investment Management LP raised its position in Alcoa by 29.6% in the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock worth $113,276,000 after purchasing an additional 684,505 shares during the period. Wellington Management Group LLP lifted its stake in Alcoa by 488.2% in the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock worth $30,320,000 after purchasing an additional 666,117 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Alcoa by 96.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company's stock valued at $40,240,000 after buying an additional 522,039 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Alcoa by 395.3% during the fourth quarter. Federated Hermes Inc. now owns 454,507 shares of the industrial products company's stock valued at $17,171,000 after buying an additional 362,737 shares during the last quarter. Institutional investors own 82.39% of the company's stock.

Alcoa Stock Down 3.1 %

Shares of AA traded down $0.77 during trading hours on Wednesday, hitting $24.42. The company had a trading volume of 1,923,496 shares, compared to its average volume of 5,425,384. 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 company has a market capitalization of $6.32 billion, a PE ratio of -152.71, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. Alcoa Co. has a one year low of $21.53 and a one year high of $47.77. The company's fifty day moving average price is $29.45 and its two-hundred day moving average price is $36.26.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 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 during the quarter, compared to the consensus estimate of $3.58 billion. As a group, equities analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AA shares. JPMorgan Chase & Co. decreased 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. Bank of America reissued an "underperform" rating and set a $26.00 target price (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. UBS Group reduced their price target on shares of Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. HC Wainwright boosted their price objective on shares of Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Finally, B. Riley reduced their target price on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $44.17.

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.