Robertson Stephens Wealth Management LLC Acquires Shares of 132,479 Alcoa (NYSE:AA)

Robertson Stephens Wealth Management LLC acquired a new stake in shares of Alcoa (NYSE:AA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 132,479 shares of the industrial products company's stock, valued at approximately $4,041,000. Robertson Stephens Wealth Management LLC owned approximately 0.05% of Alcoa at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 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 position in Alcoa during the 4th quarter valued at about $29,000. Versant Capital Management Inc increased its position in Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 520 shares during the period. Point72 Hong Kong Ltd purchased a new position in Alcoa during the 4th quarter valued at about $36,000. Finally, Smartleaf Asset Management LLC increased 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 purchasing an additional 393 shares during the period.

Alcoa Stock Performance

NYSE:AA traded down $0.37 during trading hours on Wednesday, hitting $28.35. 5,030,210 shares of the company were exchanged, compared to its average volume of 5,594,618. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.16 and a beta of 2.26. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00. The company's 50 day moving average price is $26.77 and its 200-day moving average price is $32.45.

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 for the quarter, topping the consensus estimate of $1.73 by $0.42. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. As a group, research analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Tuesday, May 20th. Alcoa's dividend payout ratio is presently 12.05%.

Wall Street Analyst Weigh In

A number of research firms have commented on AA. B. Riley cut 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 Wall Street Zen raised shares of Alcoa from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays raised their target price on shares of Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $25.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Bank of America reaffirmed an "underperform" rating and issued a $26.00 price objective (down previously 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, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $42.75.

About Alcoa

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.