16,810 Shares in Alcoa (NYSE:AA) Purchased by Burney Co.

Key Points

• Burney Co. has acquired 16,810 shares of Alcoa (NYSE:AA), valued at approximately $513,000, indicating institutional interest in the company.
• Alcoa's recent quarterly earnings reported $0.39 EPS, surpassing expectations, with revenue of $3.02 billion for the quarter, showing a year-over-year increase.
• Alcoa has declared a quarterly dividend of $0.10 per share, providing investors with a yield of 1.30%, showcasing their commitment to returning value to shareholders.

Burney Co. acquired a new position in shares of Alcoa (NYSE:AA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,810 shares of the industrial products company's stock, valued at approximately $513,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AA. Raymond James Financial Inc. acquired a new stake in Alcoa during the fourth quarter worth about $1,639,000. Natixis Advisors LLC increased its position in shares of Alcoa by 27.2% during the fourth quarter. Natixis Advisors LLC now owns 12,808 shares of the industrial products company's stock valued at $484,000 after acquiring an additional 2,742 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of Alcoa by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company's stock valued at $816,000 after acquiring an additional 948 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Alcoa during the fourth quarter valued at about $686,000. Finally, Sei Investments Co. increased its position in shares of Alcoa by 25.6% during the fourth quarter. Sei Investments Co. now owns 107,460 shares of the industrial products company's stock valued at $4,060,000 after acquiring an additional 21,918 shares during the last quarter.

Alcoa Stock Down 3.2%

Shares of Alcoa stock opened at $30.85 on Friday. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a 50 day moving average of $29.20 and a 200 day moving average of $30.69. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $7.99 billion, a P/E ratio of 8.05, a P/E/G ratio of 0.18 and a beta of 2.25.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the firm earned $0.16 earnings per share. The firm's quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. Alcoa's dividend payout ratio is currently 10.44%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Alcoa from $26.00 to $27.00 and gave the company an "underperform" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. dropped their price target on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. UBS Group reiterated a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Finally, Morgan Stanley dropped their price target on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $41.23.

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.

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