SG Americas Securities LLC Increases Stock Position in Alcoa (NYSE:AA)

SG Americas Securities LLC boosted its holdings in Alcoa (NYSE:AA - Free Report) by 630.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,955 shares of the industrial products company's stock after purchasing an additional 24,991 shares during the quarter. SG Americas Securities LLC's holdings in Alcoa were worth $883,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Drummond Knight Asset Management Pty Ltd bought a new position in Alcoa in the 4th quarter worth about $19,646,000. Corient Private Wealth LLC raised its holdings in Alcoa by 4.6% in the fourth quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company's stock worth $816,000 after buying an additional 948 shares during the last quarter. Rhumbline Advisers raised its holdings in Alcoa by 1.6% in the fourth quarter. Rhumbline Advisers now owns 688,784 shares of the industrial products company's stock worth $26,022,000 after buying an additional 11,094 shares during the last quarter. M&T Bank Corp lifted its stake in shares of Alcoa by 16.6% in the fourth quarter. M&T Bank Corp now owns 26,437 shares of the industrial products company's stock worth $999,000 after buying an additional 3,758 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after buying an additional 393 shares during the last quarter.

Analysts Set New Price Targets

AA has been the subject of several analyst reports. 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. JPMorgan Chase & Co. increased their target price on Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a research note on Wednesday. B. Riley decreased their price target on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a report on Sunday. Finally, HC Wainwright increased their price objective on Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Alcoa currently has an average rating of "Hold" and a consensus target price of $42.75.

Alcoa Price Performance

Shares of AA traded down $0.47 during trading hours on Friday, reaching $27.88. 7,290,026 shares of the stock traded hands, compared to its average volume of 5,594,214. The company has a market cap of $7.22 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 0.15 and a beta of 2.26. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The company's 50-day moving average price is $26.92 and its two-hundred day moving average price is $32.11. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.73 by $0.42. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a return on equity of 18.56% and a net margin of 6.79%. On average, analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were paid a $0.10 dividend. The ex-dividend date was Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.43%. Alcoa's payout ratio is 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.