Sourcerock Group LLC Grows Stake in Alcoa Co. (NYSE:AA)

Sourcerock Group LLC increased its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 319.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,978,009 shares of the industrial products company's stock after acquiring an additional 1,506,009 shares during the quarter. Alcoa makes up approximately 5.3% of Sourcerock Group LLC's holdings, making the stock its 7th biggest holding. Sourcerock Group LLC owned 0.77% of Alcoa worth $74,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of AA. Bessemer Group Inc. raised its stake in Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after acquiring an additional 296 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Alcoa in the fourth quarter valued at approximately $29,000. Point72 Hong Kong Ltd acquired a new position in shares of Alcoa during the fourth quarter valued at approximately $36,000. Smartleaf Asset Management LLC increased its stake in shares of Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 393 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 598 shares during the period. Institutional investors and hedge funds own 82.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AA shares. Bank of America restated an "underperform" rating and set a $26.00 target price (down from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. UBS Group restated a "neutral" rating and set a $31.00 target price on shares of Alcoa in a report on Thursday, May 15th. B. Riley reduced their target price on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Barclays raised their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $42.50.

Alcoa Stock Down 1.1%

Shares of NYSE:AA traded down $0.32 during trading on Thursday, reaching $27.95. 4,813,298 shares of the company traded hands, compared to its average volume of 5,492,961. The firm has a fifty day simple moving average of $27.55 and a 200 day simple moving average of $34.71. The firm has a market cap of $7.24 billion, a P/E ratio of -174.69, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. Alcoa Co. has a 1-year low of $21.53 and a 1-year high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is currently 12.05%.

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.