Impax Asset Management Group plc boosted its stake in shares of Alcoa (NYSE:AA - Free Report) by 40.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 38,761 shares of the industrial products company's stock after buying an additional 11,189 shares during the period. Impax Asset Management Group plc's holdings in Alcoa were worth $1,182,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. D.A. Davidson & CO. raised its holdings in Alcoa by 219.8% during the 1st quarter. D.A. Davidson & CO. now owns 45,348 shares of the industrial products company's stock worth $1,383,000 after buying an additional 31,169 shares during the period. Principal Financial Group Inc. grew its stake in shares of Alcoa by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 593,819 shares of the industrial products company's stock worth $18,111,000 after acquiring an additional 2,125 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Alcoa by 225.6% during the 1st quarter. Teacher Retirement System of Texas now owns 59,130 shares of the industrial products company's stock worth $1,803,000 after acquiring an additional 40,967 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Alcoa by 208.6% during the 1st quarter. Vontobel Holding Ltd. now owns 54,989 shares of the industrial products company's stock worth $1,677,000 after acquiring an additional 37,168 shares in the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Alcoa by 6.7% during the 1st quarter. New York State Teachers Retirement System now owns 175,129 shares of the industrial products company's stock worth $5,341,000 after acquiring an additional 10,972 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. B. Riley restated a "buy" rating and set a $38.00 target price (down from $43.00) on shares of Alcoa in a report on Tuesday, June 24th. 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. Citigroup assumed coverage on shares of Alcoa in a report on Tuesday. They set a "buy" rating and a $42.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $25.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, June 18th. Finally, UBS Group restated a "neutral" rating and set a $31.00 target price on shares of Alcoa in a report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Alcoa presently has a consensus rating of "Hold" and an average price target of $42.31.
View Our Latest Stock Report on AA
Alcoa Stock Performance
Shares of Alcoa stock traded up $0.82 during trading on Tuesday, reaching $30.63. The company's stock had a trading volume of 837,620 shares, compared to its average volume of 5,904,440. The business's 50-day moving average price is $28.04 and its 200-day moving average price is $31.28. The firm has a market cap of $7.93 billion, a PE ratio of 9.22, a P/E/G ratio of 0.19 and a beta of 2.25. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 0.43.
Alcoa (NYSE:AA - Get Free Report) last announced 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 analysts' expectations of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. Equities analysts forecast that Alcoa will post 4.43 earnings per share for the current year.
Alcoa Announces Dividend
The business 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. This represents a $0.40 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is presently 12.05%.
Alcoa Company Profile
(
Free Report)
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.
See Also
Before you consider Alcoa, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alcoa wasn't on the list.
While Alcoa currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
