M&T Bank Corp Increases Stock Position in Alcoa $AA

Key Points

• M&T Bank boosted its stake in Alcoa by 188.9% in Q4, owning 39,918 shares worth $2.12 million after purchasing an additional 26,102 shares.
• Alcoa missed Q1 estimates, reporting $1.40 EPS versus $1.60 expected and $3.19 billion in revenue versus $3.35 billion expected, with revenue down 5.2% year‑over‑year.
• Analyst sentiment is mixed—several firms raised targets (UBS and JPMorgan to ~$70) and some upgrades occurred, but the MarketBeat consensus remains a "Hold" with an average target price of $64.27.

M&T Bank Corp boosted its stake in Alcoa (NYSE:AA - Free Report) by 188.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,918 shares of the industrial products company's stock after purchasing an additional 26,102 shares during the quarter. M&T Bank Corp's holdings in Alcoa were worth $2,121,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Raleigh Capital Management Inc. lifted its stake in Alcoa by 52,500.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company's stock worth $28,000 after purchasing an additional 525 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Hilltop National Bank purchased a new stake in Alcoa in the 4th quarter worth $40,000. True Wealth Design LLC lifted its stake in Alcoa by 2,281.3% in the 4th quarter. True Wealth Design LLC now owns 762 shares of the industrial products company's stock worth $40,000 after purchasing an additional 730 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in Alcoa in the 3rd quarter worth $27,000.

Wall Street Analysts Forecast Growth

AA has been the topic of several research analyst reports. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a research note on Thursday, March 12th. Zacks Research upgraded shares of Alcoa from a "hold" rating to a "strong-buy" rating in a report on Friday, April 10th. UBS Group boosted their target price on shares of Alcoa from $48.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $68.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Finally, Wall Street Zen upgraded shares of Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $64.27.

Alcoa Stock Performance

Alcoa stock opened at $63.14 on Wednesday. The company's 50-day moving average price is $64.80 and its 200-day moving average price is $54.50. Alcoa has a twelve month low of $23.60 and a twelve month high of $75.70. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The company has a market cap of $16.66 billion, a PE ratio of 15.98 and a beta of 1.70.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly 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 firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business's revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.15 earnings per share. On average, equities research analysts forecast that Alcoa will post 7.66 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date was Tuesday, March 10th. Alcoa's dividend payout ratio is presently 10.13%.

About Alcoa

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.

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