Alcoa $AA Shares Purchased by Merit Financial Group LLC

Key Points

• Merit Financial Group LLC boosted its stake in Alcoa by 114.2% in Q4 to 28,945 shares, worth about $1.54 million as of its latest 13F filing.
• Alcoa missed Q1 estimates, reporting EPS of $1.40 versus $1.60 expected and revenue of $3.19 billion versus $3.35 billion, with revenue down 5.2% year-over-year; nevertheless several analysts raised price targets (Citigroup to $76) while the consensus rating remains a "Hold" with a $61.73 target.
• Alcoa stock opened at $68.56 (52-week range $23.60–$75.70) and has a market cap of $18.09 billion and a PE of 17.36; the company also pays a $0.10 quarterly dividend (annualized $0.40, ~0.6% yield).

Merit Financial Group LLC boosted its stake in Alcoa (NYSE:AA - Free Report) by 114.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,945 shares of the industrial products company's stock after acquiring an additional 15,432 shares during the quarter. Merit Financial Group LLC's holdings in Alcoa were worth $1,538,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. grew its stake in Alcoa by 52,500.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 525 shares during the period. CoreCap Advisors LLC grew its stake in Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 237 shares during the period. Hilltop National Bank acquired a new stake in Alcoa in the 4th quarter valued at $40,000. True Wealth Design LLC grew its stake in Alcoa by 2,281.3% in the 4th quarter. True Wealth Design LLC now owns 762 shares of the industrial products company's stock valued at $40,000 after acquiring an additional 730 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Alcoa in the 3rd quarter valued at $27,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Alcoa from $54.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Alcoa in a research note on Monday, December 29th. Wall Street Zen raised shares of Alcoa from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a research note on Thursday, March 12th. Finally, UBS Group lifted their target price on shares of Alcoa from $48.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $61.73.

Alcoa Stock Up 2.1%

NYSE AA opened at $68.56 on Thursday. Alcoa has a 52 week low of $23.60 and a 52 week high of $75.70. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $64.32 and its 200-day simple moving average is $53.54. The firm has a market cap of $18.09 billion, a PE ratio of 17.36 and a beta of 1.70.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion during the quarter, compared to analysts' expectations of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm's quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.15 earnings per share. As a group, equities analysts anticipate that Alcoa will post 7.66 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, March 10th. Alcoa's payout ratio is 10.13%.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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