Bourgeon Capital Management LLC acquired a new position in shares of Alcoa Co. (NYSE:AA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 187,534 shares of the industrial products company's stock, valued at approximately $5,720,000. Bourgeon Capital Management LLC owned 0.07% of Alcoa as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. boosted 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 buying an additional 296 shares during the period. Versant Capital Management Inc lifted its position in shares of Alcoa by 134.7% during the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after purchasing an additional 520 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Alcoa during the fourth quarter worth $29,000. Point72 Hong Kong Ltd bought a new stake in shares of Alcoa during the fourth quarter worth $36,000. Finally, Smartleaf Asset Management LLC lifted its position 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 worth $39,000 after purchasing an additional 393 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
AA has been the subject of several research analyst reports. Bank of America reiterated an "underperform" rating and set a $26.00 target price (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. HC Wainwright lifted their target price on Alcoa to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. B. Riley decreased their target price on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Barclays lifted their target price on Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. One equities 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 stock. Based on data from MarketBeat.com, Alcoa has an average rating of "Hold" and an average price target of $42.50.
Read Our Latest Report on AA
Alcoa Stock Up 0.5%
Shares of AA stock traded up $0.14 on Friday, hitting $28.01. The stock had a trading volume of 3,699,542 shares, compared to its average volume of 5,534,742. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $26.27 and a 200 day moving average price of $33.42. The company has a market cap of $7.25 billion, a PE ratio of -175.06, a P/E/G ratio of 0.19 and a beta of 2.26. Alcoa Co. has a one year low of $21.53 and a one year high of $47.77.
Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.42. The firm 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%. Research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.
Alcoa Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.43%. Alcoa's dividend payout ratio is presently 12.05%.
Alcoa Company Profile
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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.
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