Franklin Resources Inc. Buys New Shares in Alcoa Co. (NYSE:AA)

Franklin Resources Inc. acquired a new position in Alcoa Co. (NYSE:AA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 43,208 shares of the industrial products company's stock, valued at approximately $1,632,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Alcoa during the 4th quarter worth about $259,273,000. Geode Capital Management LLC boosted its position in shares of Alcoa by 42.0% during 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 buying an additional 1,239,479 shares during the period. ARGA Investment Management LP grew its stake in shares of Alcoa by 29.6% during the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock valued at $113,276,000 after buying an additional 684,505 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Alcoa by 488.2% in the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock worth $30,320,000 after buying an additional 666,117 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Alcoa by 96.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company's stock worth $40,240,000 after acquiring an additional 522,039 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.

Alcoa Stock Down 7.2 %

Alcoa stock traded down $1.81 during trading hours on Friday, reaching $23.26. The stock had a trading volume of 13,603,045 shares, compared to its average volume of 5,410,836. Alcoa Co. has a 52 week low of $21.53 and a 52 week high of $47.77. The company has a market cap of $6.02 billion, a price-to-earnings ratio of -145.39, a PEG ratio of 0.19 and a beta of 2.28. 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 business's 50 day moving average price is $31.05 and its 200-day moving average price is $36.94.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The company had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.58 billion. Sell-side analysts anticipate that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.72%. The ex-dividend date was Tuesday, March 4th. Alcoa's dividend payout ratio is currently -250.00%.

Analyst Ratings Changes

AA has been the topic of several research analyst reports. UBS Group cut their price objective on Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday. B. Riley reduced their price target on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Thursday. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Bank of America reissued an "underperform" rating and issued a $26.00 price objective (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. BMO Capital Markets raised their target price on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Finally, HC Wainwright boosted their price target on Alcoa to $90.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.17.

Alcoa 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.