Alcoa (NYSE:AA) Shares Bought by Carmel Capital Partners LLC

Carmel Capital Partners LLC lifted its holdings in Alcoa (NYSE:AA - Free Report) by 65.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,546 shares of the industrial products company's stock after acquiring an additional 14,884 shares during the period. Carmel Capital Partners LLC's holdings in Alcoa were worth $1,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 296 shares during the last quarter. Continuum Advisory LLC boosted its stake in Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 345 shares during the last quarter. Captrust Financial Advisors boosted its stake in Alcoa by 5.8% during the 4th quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock valued at $248,000 after purchasing an additional 361 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of Alcoa by 6.1% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,029 shares of the industrial products company's stock worth $341,000 after buying an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after buying an additional 520 shares during the last quarter.

Analyst Ratings Changes

AA has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday. B. Riley cut their price target on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 target price for the company in a report on Tuesday, July 8th. Barclays increased their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. Finally, Bank of America increased their target price on shares of Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $41.23.

Alcoa Stock Up 3.1%

AA traded up $0.90 during trading hours on Friday, hitting $30.29. 7,414,628 shares of the company's stock were exchanged, compared to its average volume of 5,714,716. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The firm has a 50 day moving average of $28.94 and a 200 day moving average of $30.78. The firm has a market cap of $7.84 billion, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 0.18 and a beta of 2.25. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.42.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. Alcoa's quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. Analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.32%. Alcoa's dividend payout ratio (DPR) is currently 10.44%.

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.