Renaissance Technologies LLC Makes New Investment in Alcoa Co. (NYSE:AA)

Renaissance Technologies LLC acquired a new stake in shares of Alcoa Co. (NYSE:AA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 313,096 shares of the industrial products company's stock, valued at approximately $11,829,000. Renaissance Technologies LLC owned 0.12% of Alcoa at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AA. SBI Securities Co. Ltd. bought a new position in shares of Alcoa in the fourth quarter valued at $29,000. Smartleaf Asset Management LLC raised its holdings in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after acquiring an additional 393 shares during the last quarter. UMB Bank n.a. lifted its position in Alcoa by 78.5% in 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 in the last quarter. GAMMA Investing LLC boosted its stake in Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 1,157 shares during the last quarter. Finally, IMG Wealth Management Inc. bought a new stake in Alcoa during the 4th quarter worth approximately $73,000. Institutional investors own 82.39% of the company's stock.

Alcoa Stock Performance

NYSE:AA traded down $0.55 during trading hours on Monday, reaching $22.77. The stock had a trading volume of 1,004,112 shares, compared to its average volume of 5,393,922. The stock has a market cap of $5.89 billion, a P/E ratio of -142.54, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. The stock has a 50 day simple moving average of $31.05 and a 200 day simple moving average of $36.93. 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 Co. has a 12-month low of $21.53 and a 12-month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.42. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, research analysts forecast that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa's dividend payout ratio (DPR) is presently -250.00%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AA. Jefferies Financial Group dropped their target price on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, January 6th. HC Wainwright raised their price objective on Alcoa to $90.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Morgan Stanley dropped their price target on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their price objective on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday. Finally, Bank of America reissued an "underperform" rating and set a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $44.17.

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.