Alcoa $AA Shares Purchased by Victory Capital Management Inc.

Key Points

• Victory Capital grew its stake in Alcoa by 36.4% in Q3, buying 219,662 shares and holding 823,136 shares (about 0.32% of the company) worth roughly $27.07 million.
• Alcoa beat quarterly EPS expectations, reporting $1.26 vs. consensus $0.95, with revenue of $6.75 billion for the quarter and analysts projecting about 4.43 EPS for the fiscal year.
• Analysts have a consensus rating of "Hold" with an average price target of $48.25, while the stock recently traded around $61.15, above the consensus target.

Victory Capital Management Inc. grew its holdings in shares of Alcoa (NYSE:AA - Free Report) by 36.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 823,136 shares of the industrial products company's stock after buying an additional 219,662 shares during the quarter. Victory Capital Management Inc. owned 0.32% of Alcoa worth $27,073,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Root Financial Partners LLC purchased a new stake in Alcoa during the 3rd quarter worth $29,000. Horrell Capital Management Inc. purchased a new position in Alcoa in the second quarter valued at about $30,000. Orion Capital Management LLC purchased a new position in Alcoa in the third quarter valued at about $33,000. Westfuller Advisors LLC acquired a new position in shares of Alcoa during the third quarter worth about $35,000. Finally, Huntington National Bank lifted its stake in shares of Alcoa by 167.9% during the third quarter. Huntington National Bank now owns 1,259 shares of the industrial products company's stock worth $41,000 after purchasing an additional 789 shares in the last quarter.

Analysts Set New Price Targets

AA has been the subject of a number of recent research reports. Morgan Stanley reiterated an "overweight" rating and issued a $52.00 target price on shares of Alcoa in a research note on Monday, December 15th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $50.00 price target (up from $45.00) on shares of Alcoa in a report on Thursday, January 8th. UBS Group increased their price objective on shares of Alcoa from $42.00 to $48.00 and gave the company a "neutral" rating in a research report on Friday, December 12th. Zacks Research lowered shares of Alcoa from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 13th. Finally, Wells Fargo & Company reduced their target price on shares of Alcoa from $71.00 to $64.00 and set an "equal weight" rating on the stock in a research report on Friday, January 23rd. Five research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Alcoa currently has a consensus rating of "Hold" and an average target price of $48.25.

Alcoa Stock Up 2.5%

Shares of NYSE AA opened at $61.15 on Tuesday. Alcoa has a 1 year low of $21.53 and a 1 year high of $68.40. The firm has a market cap of $16.13 billion, a price-to-earnings ratio of 13.84 and a beta of 1.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.44. The stock's 50-day simple moving average is $60.74 and its 200-day simple moving average is $46.08.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.31. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The firm had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the business posted $1.04 earnings per share. Alcoa's revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, March 10th. Alcoa's dividend payout ratio is 9.05%.

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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