Edgestream Partners L.P. Invests $1.05 Million in Alcoa Co. (NYSE:AA)

Edgestream Partners L.P. purchased a new stake in Alcoa Co. (NYSE:AA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,730 shares of the industrial products company's stock, valued at approximately $1,048,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC lifted its holdings in Alcoa by 3.2% in the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company's stock valued at $339,000 after acquiring an additional 279 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of Alcoa by 0.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company's stock valued at $1,988,000 after purchasing an additional 300 shares during the period. Wilmington Savings Fund Society FSB lifted its stake in shares of Alcoa by 5.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company's stock valued at $246,000 after purchasing an additional 328 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Alcoa by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company's stock worth $365,000 after buying an additional 339 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its position in Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company's stock worth $352,000 after buying an additional 360 shares during the period. Institutional investors and hedge funds own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group decreased their price target on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. HC Wainwright lifted their price objective on Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday. Bank of America upped their target price on Alcoa to $58.00 and gave the company a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their price target on Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Finally, B. Riley raised shares of Alcoa to a "strong-buy" rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $50.17.

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Alcoa Trading Up 3.1 %

Shares of Alcoa stock opened at $31.93 on Wednesday. Alcoa Co. has a fifty-two week low of $27.12 and a fifty-two week high of $47.77. The business's fifty day moving average is $35.68 and its two-hundred day moving average is $37.97. 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 firm has a market cap of $8.27 billion, a PE ratio of -199.54, a P/E/G ratio of 0.19 and a beta of 2.55.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be given a $0.10 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. Alcoa's dividend payout ratio is presently -250.00%.

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.

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