D.A. Davidson & CO. Buys 31,169 Shares of Alcoa (NYSE:AA)

D.A. Davidson & CO. raised its stake in shares of Alcoa (NYSE:AA - Free Report) by 219.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,348 shares of the industrial products company's stock after purchasing 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 reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Alcoa by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 593,819 shares of the industrial products company's stock worth $18,111,000 after buying an additional 2,125 shares during the period. Teacher Retirement System of Texas grew its position in shares of Alcoa by 225.6% in 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 buying an additional 40,967 shares during the period. Vontobel Holding Ltd. grew its position in shares of Alcoa by 208.6% in the 1st quarter. Vontobel Holding Ltd. now owns 54,989 shares of the industrial products company's stock worth $1,677,000 after buying an additional 37,168 shares during the period. New York State Teachers Retirement System grew its position in shares of Alcoa by 6.7% in 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 buying an additional 10,972 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Alcoa in the 1st quarter worth about $331,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AA shares. UBS Group reiterated a "neutral" rating and issued a $31.00 price target on shares of Alcoa in a research note on Thursday, May 15th. Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. B. Riley reiterated a "buy" rating and issued a $38.00 price target (down previously from $43.00) on shares of Alcoa in a research note on Tuesday, June 24th. Barclays upped their price target on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. Finally, Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 price target on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Alcoa presently has an average rating of "Hold" and a consensus price target of $42.31.

Alcoa Stock Performance

Shares of NYSE:AA traded down $0.45 during trading on Friday, hitting $31.12. The company's stock had a trading volume of 4,419,431 shares, compared to its average volume of 5,677,849. The company has a 50-day moving average of $28.41 and a 200-day moving average of $31.22. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.71 and a quick ratio of 1.00. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 0.19 and a beta of 2.25.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping 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 firm had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.58 billion. On average, sell-side analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is presently 12.05%.

Alcoa Company Profile

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.