Proficio Capital Partners LLC Invests $1.22 Million in Alcoa Co. (NYSE:AA)

Proficio Capital Partners LLC bought a new position in shares of Alcoa Co. (NYSE:AA - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 32,377 shares of the industrial products company's stock, valued at approximately $1,223,000.

Several other hedge funds also recently made changes to their positions in the business. Ballentine Partners LLC grew its stake in shares of Alcoa by 3.2% during the 4th quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company's stock worth $339,000 after acquiring an additional 279 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company's stock worth $1,988,000 after acquiring an additional 300 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Alcoa by 5.3% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company's stock worth $246,000 after acquiring an additional 328 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Alcoa by 3.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company's stock worth $365,000 after acquiring an additional 339 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its stake in shares of Alcoa by 4.1% in the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company's stock valued at $352,000 after buying an additional 360 shares in the last quarter. 82.39% of the stock is owned by institutional investors.

Remove Ads

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Bank of America raised their target price on shares of Alcoa to $58.00 and gave the company a "buy" rating in a research note on Friday, January 24th. Morgan Stanley decreased 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. B. Riley raised Alcoa to a "strong-buy" rating in a report on Tuesday, January 21st. Jefferies Financial Group cut their price target on Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a report on Monday, January 6th. Finally, BMO Capital Markets raised their price target on Alcoa to $43.00 and gave the company a "hold" rating in a report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alcoa presently has an average rating of "Moderate Buy" and an average price target of $46.55.

Alcoa Stock Performance

Shares of AA traded up $0.01 during midday trading on Friday, reaching $32.84. 4,178,040 shares of the stock were exchanged, compared to its average volume of 5,317,898. Alcoa Co. has a twelve month low of $27.12 and a twelve month high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.50 billion, a P/E ratio of -205.27, a PEG ratio of 0.19 and a beta of 2.55. The stock's 50 day simple moving average is $35.92 and its 200 day simple moving average is $37.96.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, sell-side analysts expect 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 will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Tuesday, March 4th. Alcoa's dividend payout ratio is presently -250.00%.

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.