Raymond James Financial Inc. Makes New $1.64 Million Investment in Alcoa Co. (NYSE:AA)

Raymond James Financial Inc. bought a new position in Alcoa Co. (NYSE:AA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 43,381 shares of the industrial products company's stock, valued at approximately $1,639,000.

A number of other large investors also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Alcoa during the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC grew its position in shares of Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 393 shares during the period. UMB Bank n.a. grew its stake in shares of Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 598 shares during the period. GAMMA Investing LLC raised its holdings in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock valued at $55,000 after acquiring an additional 1,157 shares during the period. Finally, IMG Wealth Management Inc. bought a new stake in shares of Alcoa during the fourth quarter valued at approximately $73,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AA. Bank of America reaffirmed an "underperform" rating and set a $26.00 price target (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Morgan Stanley reduced their target price on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded Alcoa from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. Jefferies Financial Group lowered their price target on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, HC Wainwright increased their price objective on Alcoa to $90.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Alcoa currently has a consensus rating of "Moderate Buy" and a consensus target price of $44.17.

Alcoa Price Performance

NYSE AA traded down $0.49 during trading hours on Monday, reaching $25.04. The company's stock had a trading volume of 4,448,047 shares, compared to its average volume of 5,409,496. The company's 50-day moving average is $28.70 and its two-hundred day moving average is $35.76. The stock has a market cap of $6.48 billion, a PE ratio of -156.51, a PEG ratio of 0.19 and a beta of 2.28. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. 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 issued its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share 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 the consensus estimate of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Analysts forecast that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.60%. Alcoa's payout ratio is currently 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.