Alcoa Co. (NYSE:AA) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its stake in Alcoa Co. (NYSE:AA - Free Report) by 395.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,507 shares of the industrial products company's stock after purchasing an additional 362,737 shares during the period. Federated Hermes Inc. owned about 0.18% of Alcoa worth $17,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Retirement Systems of Alabama raised its position in shares of Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company's stock worth $12,107,000 after acquiring an additional 92,201 shares in the last quarter. Geode Capital Management LLC increased its stake in Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company's stock valued at $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. HB Wealth Management LLC acquired a new stake in Alcoa during the fourth quarter worth approximately $211,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Alcoa during the 4th quarter worth approximately $454,000. Finally, Ausbil Investment Management Ltd acquired a new position in shares of Alcoa in the 4th quarter valued at $429,000. Hedge funds and other institutional investors own 82.39% of the company's stock.

Alcoa Price Performance

AA stock traded down $0.09 on Tuesday, reaching $24.92. 1,447,100 shares of the company's stock were exchanged, compared to its average volume of 5,440,857. The stock has a fifty day moving average of $32.05 and a 200-day moving average of $37.34. The firm has a market cap of $6.45 billion, a PE ratio of -155.63, a P/E/G ratio of 0.19 and a beta of 2.28. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77.

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Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, equities analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, March 4th. Alcoa's payout ratio is currently -250.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AA. Bank of America reissued an "underperform" rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. UBS Group decreased their price objective on Alcoa from $47.00 to $32.00 and set a "buy" rating for the company in a report on Tuesday. BMO Capital Markets lifted their target price on shares of Alcoa to $43.00 and gave the company a "hold" rating in a report on Friday, January 17th. Jefferies Financial Group lowered their price objective on shares of Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $40.00 to $28.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $45.00.

Alcoa Company 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.