Douglas Lane & Associates LLC Purchases 13,194 Shares of Alcoa Co. (NYSE:AA)

Douglas Lane & Associates LLC lifted its stake in Alcoa Co. (NYSE:AA - Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,401,884 shares of the industrial products company's stock after buying an additional 13,194 shares during the period. Douglas Lane & Associates LLC owned about 0.54% of Alcoa worth $42,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Alcoa during the 4th quarter worth approximately $259,273,000. Sourcerock Group LLC boosted its stake in Alcoa by 319.1% in the fourth quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock worth $74,729,000 after purchasing an additional 1,506,009 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Alcoa by 46.8% during the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock worth $96,324,000 after purchasing an additional 813,214 shares during the last quarter. ARGA Investment Management LP grew its holdings in shares of Alcoa by 29.6% during the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock worth $113,276,000 after purchasing an additional 684,505 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Alcoa by 488.2% in the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock valued at $30,320,000 after buying an additional 666,117 shares in the last quarter. Institutional investors own 82.39% of the company's stock.

Alcoa Price Performance

AA stock traded up $1.06 during midday trading on Tuesday, reaching $27.66. The company had a trading volume of 9,002,499 shares, compared to its average volume of 5,529,421. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a market capitalization of $7.16 billion, a P/E ratio of -172.84, a P/E/G ratio of 0.19 and a beta of 2.29. The firm has a 50-day moving average price of $26.51 and a 200-day moving average price of $33.74.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. The firm had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.45%. Alcoa's payout ratio is 12.05%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AA. JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Barclays lifted their price objective on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. B. Riley decreased their price objective 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 HC Wainwright raised their price objective on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Finally, Bank of America reiterated an "underperform" rating and set a $26.00 target price (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Alcoa has a consensus rating of "Hold" and a consensus target price of $42.50.

Alcoa 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.