Raymond James & Associates grew its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 3,731.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 799,705 shares of the industrial products company's stock after buying an additional 778,831 shares during the period. Raymond James & Associates owned 0.45% of Alcoa worth $27,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Handelsinvest Investeringsforvaltning purchased a new position in shares of Alcoa in the fourth quarter valued at $285,000. Gateway Investment Advisers LLC purchased a new position in shares of Alcoa in the fourth quarter valued at $219,000. Nordea Investment Management AB grew its holdings in shares of Alcoa by 132.2% in the fourth quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company's stock valued at $3,824,000 after purchasing an additional 63,816 shares in the last quarter. Central Bank & Trust Co. grew its holdings in shares of Alcoa by 190.4% in the fourth quarter. Central Bank & Trust Co. now owns 2,384 shares of the industrial products company's stock valued at $81,000 after purchasing an additional 1,563 shares in the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Alcoa in the fourth quarter valued at $249,000.
Alcoa Stock Up 1.7 %
Alcoa stock traded up $0.58 during trading hours on Friday, reaching $33.79. The stock had a trading volume of 6,147,050 shares, compared to its average volume of 6,264,815. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -9.26, a PEG ratio of 2.70 and a beta of 2.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The business's 50 day moving average price is $29.04 and its 200-day moving average price is $28.26. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $42.95.
Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) earnings per share for the quarter, topping analysts' consensus estimates of ($0.85) by $0.29. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same quarter in the previous year, the firm earned ($0.70) earnings per share. The company's revenue was down 2.6% on a year-over-year basis. Sell-side analysts anticipate that Alcoa Co. will post 0.29 EPS for the current year.
Alcoa Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. Alcoa's dividend payout ratio is currently -10.96%.
Insider Activity at Alcoa
In related news, EVP Tammi A. Jones sold 26,468 shares of the company's stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the sale, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Analysts Set New Price Targets
Several research firms have commented on AA. Bank of America lifted their price objective on shares of Alcoa from $31.00 to $32.00 and gave the stock a "neutral" rating in a research note on Monday, March 18th. StockNews.com lowered shares of Alcoa from a "hold" rating to a "sell" rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $30.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, January 18th. UBS Group started coverage on shares of Alcoa in a research note on Tuesday, January 16th. They set a "sell" rating and a $29.00 target price for the company. Finally, Morgan Stanley boosted their target price on shares of Alcoa from $27.00 to $29.50 and gave the company an "underweight" rating in a research note on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.88.
Check Out Our Latest Analysis on Alcoa
About Alcoa
(
Free Report)
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.
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