Vanguard Group Inc. Raises Stake in Alcoa Co. (NYSE:AA)

Vanguard Group Inc. boosted its holdings in shares of Alcoa Co. (NYSE:AA) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,979,129 shares of the industrial products company’s stock after buying an additional 165,420 shares during the quarter. Vanguard Group Inc. owned 10.06% of Alcoa worth $981,491,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. SBI Securities Co. Ltd. acquired a new position in Alcoa during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC grew its holdings in Alcoa by 59.7% during the fourth 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 period. Quarry LP purchased a new position in Alcoa during the third quarter valued at approximately $43,000. Continuum Advisory LLC lifted its holdings in Alcoa by 1,945.5% in the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,070 shares during the period. Finally, 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 worth $51,000 after purchasing an additional 598 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BMO Capital Markets increased their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. B. Riley raised Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. UBS Group cut their price objective on Alcoa from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday. Bank of America lifted their price target on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Morgan Stanley cut their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alcoa presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.92.

Alcoa Stock Performance

NYSE AA opened at $30.58 on Friday. Alcoa Co. has a fifty-two week low of $27.12 and a fifty-two week high of $47.77. The firm has a market capitalization of $7.92 billion, a P/E ratio of -191.15, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The stock’s fifty day moving average is $34.75 and its two-hundred day moving average is $38.06. 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) last announced its quarterly earnings data 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%. On average, research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s payout ratio is presently -250.00%.

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.