Levin Capital Strategies L.P. Acquires 177,271 Shares of Alcoa Co. (NYSE:AA)

Levin Capital Strategies L.P. boosted its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 1,324.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 190,657 shares of the industrial products company's stock after buying an additional 177,271 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.11% of Alcoa worth $6,482,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. grew its position in Alcoa by 7.4% during the third quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company's stock valued at $93,457,000 after buying an additional 222,884 shares during the period. Assenagon Asset Management S.A. bought a new stake in Alcoa during the third quarter valued at approximately $39,557,000. Charles Schwab Investment Management Inc. grew its position in Alcoa by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company's stock valued at $35,874,000 after buying an additional 54,876 shares during the period. Douglas Lane & Associates LLC grew its position in Alcoa by 16.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 1,197,317 shares of the industrial products company's stock valued at $40,709,000 after buying an additional 173,367 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alcoa by 9.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 939,128 shares of the industrial products company's stock worth $27,291,000 after purchasing an additional 80,916 shares during the period.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares of the company's stock, valued at $1,267,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analysts Set New Price Targets

A number of research firms have weighed in on AA. Bank of America upped their price target on shares of Alcoa from $31.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, March 18th. Jefferies Financial Group upped their price target on shares of Alcoa from $45.00 to $48.00 and gave the company a "buy" rating in a research note on Thursday, April 18th. StockNews.com cut shares of Alcoa from a "hold" rating to a "sell" rating in a research report on Friday, April 19th. Morgan Stanley upgraded shares of Alcoa from an "underweight" rating to an "equal weight" rating and upped their price target for the stock from $28.50 to $36.50 in a report on Monday, April 22nd. Finally, B. Riley increased their target price on shares of Alcoa from $25.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $33.54.

Alcoa Stock Performance

Shares of AA stock traded up $1.70 during trading hours on Thursday, hitting $35.95. The company's stock had a trading volume of 5,780,508 shares, compared to its average volume of 6,468,127. The company has a 50 day moving average of $32.56 and a 200 day moving average of $29.57. The stock has a market cap of $6.46 billion, a PE ratio of -9.11, a price-to-earnings-growth ratio of 3.61 and a beta of 2.44. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $38.20.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The business had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The firm's revenue was down 2.7% on a year-over-year basis. During the same period last year, the company earned ($0.23) earnings per share. On average, sell-side analysts forecast that Alcoa Co. will post 0.2 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, March 4th. Alcoa's dividend payout ratio (DPR) is presently -10.64%.

Alcoa Company 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.