Drummond Knight Asset Management Pty Ltd Makes New $19.65 Million Investment in Alcoa Co. (NYSE:AA)

Drummond Knight Asset Management Pty Ltd purchased a new stake in Alcoa Co. (NYSE:AA - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 520,000 shares of the industrial products company's stock, valued at approximately $19,646,000. Alcoa comprises about 14.3% of Drummond Knight Asset Management Pty Ltd's investment portfolio, making the stock its biggest position. Drummond Knight Asset Management Pty Ltd owned about 0.20% of Alcoa at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. increased its stake 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. acquired a new position in shares of Alcoa in the fourth quarter worth about $29,000. Smartleaf Asset Management LLC lifted its position in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after purchasing an additional 393 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock worth $51,000 after purchasing an additional 598 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock valued at $55,000 after acquiring an additional 1,157 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company's stock.

Alcoa Price Performance

Shares of AA traded up $2.39 during midday trading on Monday, reaching $28.31. The stock had a trading volume of 5,838,200 shares, compared to its average volume of 5,459,070. The company's 50-day moving average is $28.13 and its 200 day moving average is $35.30. Alcoa Co. has a 12-month low of $21.53 and a 12-month high of $47.77. 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 $7.33 billion, a price-to-earnings ratio of -176.84, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS 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 business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. On average, equities analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

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 paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. Alcoa's dividend payout ratio (DPR) is currently 12.05%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AA. Morgan Stanley lowered 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. StockNews.com raised Alcoa from a "hold" rating to a "buy" rating in a report on Friday, April 18th. UBS Group dropped their price objective on Alcoa from $47.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. 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 Finally, Bank of America reiterated an "underperform" rating and issued a $26.00 price objective (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $44.17.

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.