Wellington Management Group LLP Purchases 666,117 Shares of Alcoa Co. (NYSE:AA)

Wellington Management Group LLP boosted its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 488.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 802,547 shares of the industrial products company's stock after acquiring an additional 666,117 shares during the period. Wellington Management Group LLP owned 0.31% of Alcoa worth $30,320,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AA. Bessemer Group Inc. increased its stake in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 296 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Alcoa in the 4th quarter valued at approximately $29,000. Point72 Hong Kong Ltd bought a new stake in shares of Alcoa during the 4th quarter valued at approximately $36,000. Smartleaf Asset Management LLC increased its position in Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after purchasing an additional 393 shares in the last quarter. Finally, Continuum Advisory LLC lifted 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 valued at $56,000 after purchasing an additional 345 shares during the last quarter. Institutional investors own 82.39% of the company's stock.

Alcoa Trading Up 4.0%

Shares of Alcoa stock traded up $1.06 on Tuesday, reaching $27.66. 8,997,830 shares of the company's stock were exchanged, compared to its average volume of 5,974,104. The company has a market capitalization of $7.16 billion, a P/E ratio of -172.84, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. Alcoa Co. has a 52 week low of $21.53 and a 52 week high of $47.77. The firm's 50-day moving average is $26.51 and its two-hundred day moving average is $33.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (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 for the quarter, compared to analysts' expectations of $3.58 billion. Sell-side analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.45%. Alcoa's dividend payout ratio is presently 12.05%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AA shares. HC Wainwright upped their price target on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Bank of America reaffirmed an "underperform" rating and issued a $26.00 target price (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. Barclays increased their target price on Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. UBS Group reissued a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research note on Thursday, May 15th. Finally, B. Riley lowered their price objective 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 One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Alcoa has a consensus rating of "Hold" and an average target price of $42.50.

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.