Robertson Stephens Wealth Management LLC Acquires New Stake in Alcoa (NYSE:AA)

Robertson Stephens Wealth Management LLC purchased a new stake in Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 132,479 shares of the industrial products company's stock, valued at approximately $4,041,000. Robertson Stephens Wealth Management LLC owned 0.05% of Alcoa at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of Alcoa during the 1st quarter valued at $173,000. QRG Capital Management Inc. raised its holdings in shares of Alcoa by 58.0% during the first quarter. QRG Capital Management Inc. now owns 11,236 shares of the industrial products company's stock valued at $343,000 after purchasing an additional 4,125 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Alcoa by 10.6% during the first quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company's stock valued at $582,000 after purchasing an additional 1,831 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in Alcoa by 61.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock valued at $516,000 after buying an additional 6,447 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Alcoa by 630.4% during the 1st quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock worth $883,000 after buying an additional 24,991 shares during the period. 82.39% of the stock is currently owned by institutional investors.

Alcoa Stock Performance

Alcoa stock traded down $0.47 during mid-day trading on Friday, reaching $27.88. 7,289,867 shares of the company's stock were exchanged, compared to its average volume of 5,601,373. The business's fifty day simple moving average is $26.86 and its 200 day simple moving average is $32.33. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 0.43. Alcoa has a one year low of $21.53 and a one year high of $47.77. The firm has a market capitalization of $7.22 billion, a PE ratio of 8.40, a P/E/G ratio of 0.16 and a beta of 2.26.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.42. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a return on equity of 18.56% and a net margin of 6.79%. On average, sell-side analysts expect that Alcoa 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 Friday, June 6th. Shareholders of record on Tuesday, May 20th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.43%. The ex-dividend date was Tuesday, May 20th. Alcoa's dividend payout ratio is 12.05%.

Analyst Upgrades and Downgrades

AA has been the subject of several recent research reports. Bank of America restated an "underperform" rating and set a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. Wall Street Zen upgraded shares of Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. UBS Group reiterated a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a report on Thursday, May 15th. HC Wainwright boosted their target price on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $42.75.

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.