SG Americas Securities LLC Purchases 24,991 Shares of Alcoa (NYSE:AA)

SG Americas Securities LLC lifted its stake in Alcoa (NYSE:AA - Free Report) by 630.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Alcoa by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock valued at $981,491,000 after buying an additional 165,420 shares in the last quarter. Norges Bank bought a new position in Alcoa in the 4th quarter valued at $259,273,000. Geode Capital Management LLC raised its position in Alcoa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock valued at $159,966,000 after purchasing an additional 39,022 shares during the last quarter. Bank of New York Mellon Corp raised its position in Alcoa by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company's stock valued at $96,372,000 after purchasing an additional 192,078 shares during the last quarter. Finally, Northern Trust Corp raised its position in Alcoa by 46.8% in the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after purchasing an additional 813,214 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Bank of America reissued an "underperform" rating and issued a $26.00 target price (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. B. Riley cut their target price on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M UBS Group restated a "neutral" rating and set a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday. Finally, HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $42.75.

Alcoa Stock Performance

AA traded down $0.47 during midday trading on Friday, reaching $27.88. The company had a trading volume of 7,290,026 shares, compared to its average volume of 5,597,836. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 1.71. The stock has a market cap of $7.22 billion, a PE ratio of 8.40, a P/E/G ratio of 0.16 and a beta of 2.26. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The business has a 50-day moving average price of $26.86 and a two-hundred day moving average price of $32.33.

Alcoa (NYSE:AA - Get Free Report) last issued 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 company had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.58 billion. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. On average, sell-side analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Tuesday, May 20th. Alcoa's dividend payout ratio is 12.05%.

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.