D.A. Davidson & CO. boosted its holdings in Alcoa (NYSE:AA - Free Report) by 219.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,348 shares of the industrial products company's stock after acquiring an additional 31,169 shares during the quarter. D.A. Davidson & CO.'s holdings in Alcoa were worth $1,383,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Alcoa by 61.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company's stock worth $516,000 after purchasing an additional 6,447 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Alcoa by 58.8% in the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company's stock valued at $70,000 after acquiring an additional 851 shares during the period. Drummond Knight Asset Management Pty Ltd bought a new stake in Alcoa during the fourth quarter valued at approximately $19,646,000. Corient Private Wealth LLC lifted its position in Alcoa by 4.6% during the fourth quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company's stock valued at $816,000 after purchasing an additional 948 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Alcoa by 630.4% in the first quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company's stock worth $883,000 after buying an additional 24,991 shares in the last quarter.
Alcoa Price Performance
Shares of AA stock traded down $0.45 on Friday, reaching $31.12. The company's stock had a trading volume of 4,419,433 shares, compared to its average volume of 5,668,554. The stock's fifty day simple moving average is $28.52 and its 200-day simple moving average is $31.12. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a market capitalization of $8.06 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 0.19 and a beta of 2.25. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.
Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.73 by $0.42. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.
Alcoa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.29%. Alcoa's dividend payout ratio is currently 12.05%.
Analyst Upgrades and Downgrades
AA has been the topic of a number of analyst reports. UBS Group reaffirmed a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a research report on Thursday, May 15th. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a research report on Tuesday. B. Riley reaffirmed a "buy" rating and issued a $38.00 target price (down previously from $43.00) on shares of Alcoa in a report on Tuesday, June 24th. Finally, Barclays increased their price target on Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $42.31.
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About Alcoa
(
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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