Horizon Investments LLC Purchases 65,477 Shares of Alcoa $AA

Key Points

• Horizon Investments LLC raised its stake in Alcoa by 89%, buying 65,477 shares to hold 139,071 shares worth about $7.39 million (0.05% of the company) at quarter-end.
• Alcoa missed Q1 estimates, reporting $1.40 EPS vs. a $1.60 consensus and $3.19 billion in revenue vs. $3.35 billion expected, with revenue down 5.2% year-over-year.
• Analyst views are mixed—MarketBeat shows an average "Hold" rating and $64.27 target, though firms like Zacks, Citigroup ($76 target) and Morgan Stanley ($80 target) have issued upgrades; the stock trades around $62.60 with a market cap of $16.52 billion and a 12‑month range of $24.15–$75.70.

Horizon Investments LLC raised its position in Alcoa (NYSE:AA - Free Report) by 89.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 139,071 shares of the industrial products company's stock after purchasing an additional 65,477 shares during the quarter. Horizon Investments LLC owned 0.05% of Alcoa worth $7,390,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AA. Mirabella Financial Services LLP grew its holdings in shares of Alcoa by 12,233.1% during the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company's stock worth $1,318,312,000 after buying an additional 39,757,462 shares in the last quarter. State Street Corp lifted its stake in Alcoa by 6.7% in the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company's stock valued at $376,871,000 after acquiring an additional 721,063 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Alcoa by 13.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company's stock valued at $365,710,000 after acquiring an additional 1,322,540 shares in the last quarter. L1 Capital Pty Ltd boosted its position in Alcoa by 22.3% during the 3rd quarter. L1 Capital Pty Ltd now owns 5,887,699 shares of the industrial products company's stock worth $193,646,000 after acquiring an additional 1,073,357 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Alcoa by 0.3% during the 3rd quarter. Northern Trust Corp now owns 2,125,572 shares of the industrial products company's stock worth $69,910,000 after acquiring an additional 6,558 shares during the last quarter.

Analyst Ratings Changes

A number of research firms have recently issued reports on AA. Zacks Research upgraded shares of Alcoa from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a report on Thursday, March 12th. Weiss Ratings raised shares of Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Citigroup lifted their price target on shares of Alcoa from $54.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Finally, Morgan Stanley raised shares of Alcoa from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $64.00 to $80.00 in a research report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Alcoa has an average rating of "Hold" and an average price target of $64.27.

Alcoa Price Performance

NYSE:AA opened at $62.60 on Friday. Alcoa has a 12-month low of $24.15 and a 12-month high of $75.70. The firm has a market capitalization of $16.52 billion, a price-to-earnings ratio of 15.85 and a beta of 1.52. The stock's 50 day moving average price is $64.93 and its two-hundred day moving average price is $54.75. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The business's revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 earnings per share. On average, analysts anticipate that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 10th. Alcoa's payout ratio is 10.13%.

Alcoa 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.