Cetera Investment Advisers Has $6.34 Million Stock Holdings in Alcoa $AA

Key Points

• Cetera Investment Advisers increased its Alcoa stake by 196.1% in the first quarter, owning 95,609 shares valued at approximately $6.34 million.
• Alcoa reported quarterly EPS of $2.12, below the $2.25 consensus estimate, while revenue of $3.97 billion was slightly below forecasts. Shares opened at $45.31, well below their 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $0.10 per share, equivalent to an annualized $0.40 payout and a 0.9% yield. Analysts remain mixed, with a consensus “Hold” rating and an average price target of $61.09.

Cetera Investment Advisers boosted its holdings in shares of Alcoa (NYSE:AA - Free Report) by 196.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 95,609 shares of the industrial products company's stock after purchasing an additional 63,319 shares during the quarter. Cetera Investment Advisers' holdings in Alcoa were worth $6,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AA. Basepoint Wealth LLC acquired a new position in shares of Alcoa during the fourth quarter worth approximately $25,000. Advisory Services Network LLC bought a new position in Alcoa during the third quarter worth $27,000. Raleigh Capital Management Inc. increased its position in Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company's stock worth $28,000 after acquiring an additional 525 shares during the period. CoreCap Advisors LLC raised its stake in Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 237 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Alcoa by 5,281.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 581 shares during the period.

Alcoa Stock Performance

Shares of NYSE:AA opened at $45.31 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The business's fifty day moving average price is $57.44 and its two-hundred day moving average price is $61.49. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The stock has a market capitalization of $11.96 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 0.51 and a beta of 1.63.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, analysts predict that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Alcoa's payout ratio is 8.23%.

Wall Street Analyst Weigh In

Several analysts have issued reports on AA shares. Wall Street Zen upgraded shares of Alcoa from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. cut their price objective on shares of Alcoa from $55.00 to $52.00 and set a "neutral" rating for the company in a research report on Friday, July 17th. Morgan Stanley reissued an "equal weight" rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Weiss Ratings raised Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, June 17th. Finally, Zacks Research downgraded Alcoa from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $61.09.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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