Temasek Holdings Private Ltd Buys 89,389 Shares of Alcoa Co. (NYSE:AA)

Temasek Holdings Private Ltd increased its stake in Alcoa Co. (NYSE:AA - Free Report) by 25.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 438,819 shares of the industrial products company's stock after purchasing an additional 89,389 shares during the period. Temasek Holdings Private Ltd owned 0.17% of Alcoa worth $16,579,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Alcoa by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock worth $981,491,000 after purchasing an additional 165,420 shares during the period. Norges Bank acquired a new position in shares of Alcoa during the fourth quarter valued at about $259,273,000. Geode Capital Management LLC grew its position in Alcoa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock worth $159,966,000 after purchasing an additional 39,022 shares in the last quarter. ARGA Investment Management LP grew its position in shares of Alcoa by 29.6% during the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock valued at $113,276,000 after acquiring an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Alcoa by 8.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company's stock worth $96,372,000 after acquiring an additional 192,078 shares in the last quarter. Institutional investors own 82.39% of the company's stock.

Alcoa Trading Down 1.6%

NYSE:AA traded down $0.45 during mid-day trading on Wednesday, hitting $28.34. The company had a trading volume of 5,663,354 shares, compared to its average volume of 5,498,997. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The business's fifty day moving average is $27.66 and its two-hundred day moving average is $34.76. The firm has a market cap of $7.34 billion, a P/E ratio of -177.11, a P/E/G ratio of 0.19 and a beta of 2.29. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.42. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.41%. Alcoa's payout ratio is 12.05%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AA. HC Wainwright boosted their price target on shares of Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Barclays lifted their price target on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. Morgan Stanley lowered their price target on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. B. Riley cut their price target on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Bank of America restated an "underperform" rating and set a $26.00 price objective (down 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 issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Alcoa currently has an average rating of "Moderate Buy" and an average price target of $43.08.

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.