Cinctive Capital Management LP bought a new position in Alcoa Co. (NYSE:AA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 66,646 shares of the industrial products company's stock, valued at approximately $2,518,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Alcoa by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock valued at $981,491,000 after purchasing an additional 165,420 shares in the last quarter. Mountaineer Partners Management LLC boosted its holdings in Alcoa by 4,023.0% during the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company's stock worth $416,505,000 after buying an additional 10,534,036 shares in the last quarter. State Street Corp boosted its holdings in Alcoa by 23.3% during the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company's stock worth $368,965,000 after buying an additional 1,805,915 shares in the last quarter. Norges Bank acquired a new position in Alcoa in the fourth quarter worth approximately $259,273,000. Finally, Geode Capital Management LLC increased its holdings in shares of Alcoa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock valued at $159,966,000 after buying an additional 39,022 shares in the last quarter. 82.39% of the stock is owned by institutional investors.
Alcoa Stock Down 3.2 %
Alcoa stock traded down $0.79 during trading hours on Tuesday, hitting $23.81. The company had a trading volume of 3,861,734 shares, compared to its average volume of 5,372,633. Alcoa Co. has a fifty-two week low of $23.02 and a fifty-two week high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The firm has a market capitalization of $6.16 billion, a P/E ratio of -148.73, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. The firm's fifty day moving average is $33.58 and its 200-day moving average is $37.95.
Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping 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 forecast that Alcoa Co. will post 4.43 earnings per share for the current year.
Alcoa Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.68%. Alcoa's payout ratio is -250.00%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. B. Riley raised Alcoa to a "strong-buy" rating in a research note on Tuesday, January 21st. Bank of America reiterated an "underperform" rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. UBS Group decreased their target price on shares of Alcoa from $53.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Finally, Jefferies Financial Group cut their price target 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.25.
Get Our Latest Analysis on Alcoa
About Alcoa
(
Free Report)
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.
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