1620 Investment Advisors Inc. Takes Position in Alcoa Co. (NYSE:AA)

1620 Investment Advisors Inc. acquired a new stake in Alcoa Co. (NYSE:AA) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 2,826 shares of the industrial products company’s stock, valued at approximately $107,000.

Other hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Alcoa in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC raised its stake 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 valued at $39,000 after buying an additional 393 shares in the last quarter. Quarry LP acquired a new position in shares of Alcoa in the 3rd quarter valued at $43,000. Continuum Advisory LLC raised its stake in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,070 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 598 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Performance

Alcoa stock opened at $33.95 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 1 year low of $27.12 and a 1 year high of $47.77. The company has a market cap of $8.79 billion, a PE ratio of -212.16, a PEG ratio of 0.19 and a beta of 2.55. The company’s 50-day moving average is $35.29 and its two-hundred day moving average is $37.96.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Equities analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. Alcoa’s payout ratio is presently -250.00%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AA shares. BMO Capital Markets upped their target price on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Morgan Stanley lowered their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Jefferies Financial Group lowered their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.17.

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.