Arrow Capital Pty Ltd Makes New Investment in Alcoa Co. (NYSE:AA)

Arrow Capital Pty Ltd purchased a new position in shares of Alcoa Co. (NYSE:AA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 70,400 shares of the industrial products company's stock, valued at approximately $2,660,000. Alcoa accounts for approximately 2.4% of Arrow Capital Pty Ltd's holdings, making the stock its 20th largest holding.

A number of other large investors have also recently bought and sold shares of the business. Bessemer Group Inc. raised its position in Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after acquiring an additional 296 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Alcoa during the 4th quarter worth about $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Alcoa by 59.7% during the fourth 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 during the period. UMB Bank n.a. lifted its position in Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock worth $51,000 after buying an additional 598 shares during the period. Finally, GAMMA Investing LLC raised its stake in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock worth $55,000 after purchasing an additional 1,157 shares during the period. Institutional investors and hedge funds own 82.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. HC Wainwright raised their price objective on Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Jefferies Financial Group decreased their price objective on shares of Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. cut their target price on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Bank of America reiterated an "underperform" rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. Finally, B. Riley decreased their target price on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $44.17.

Alcoa Price Performance

AA stock traded up $1.14 during trading on Tuesday, hitting $24.44. 3,120,287 shares of the stock traded hands, compared to its average volume of 5,409,456. The company has a 50 day simple moving average of $30.80 and a 200 day simple moving average of $36.82. 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 one year low of $21.53 and a one year high of $47.77. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of -153.54, a P/E/G ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.42. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Equities analysts expect 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 dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa's payout ratio is 12.05%.

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.