Alcoa Co. (NYSE:AA) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in Alcoa Co. (NYSE:AA - Free Report) by 536.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 645,140 shares of the industrial products company's stock after buying an additional 543,853 shares during the quarter. Mackenzie Financial Corp owned about 0.25% of Alcoa worth $24,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Forum Financial Management LP purchased a new position in shares of Alcoa during the fourth quarter valued at approximately $291,000. Public Employees Retirement System of Ohio purchased a new position in Alcoa during the 4th quarter valued at $3,202,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Alcoa in the fourth quarter worth about $426,000. Continuum Advisory LLC increased its stake in Alcoa by 30.7% in the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after buying an additional 345 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alcoa by 2.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 641,985 shares of the industrial products company's stock valued at $24,254,000 after buying an additional 13,869 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AA has been the topic of a number of research reports. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price objective on Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. B. Riley decreased their target price 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 UBS Group reissued a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. Finally, Morgan Stanley cut their price target on Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $42.50.

Alcoa Stock Performance

AA stock traded down $0.34 during midday trading on Wednesday, reaching $27.91. The stock had a trading volume of 4,841,349 shares, compared to its average volume of 5,490,261. The firm has a fifty day simple moving average of $27.02 and a two-hundred day simple moving average of $34.21. Alcoa Co. has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The stock has a market cap of $7.23 billion, a PE ratio of -174.44, a P/E/G ratio of 0.19 and a beta of 2.29.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.42. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.58 billion. As a group, equities research analysts anticipate that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued 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 dividend yield of 1.43%. Alcoa's dividend payout ratio (DPR) is presently 12.05%.

About Alcoa

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.