Geode Capital Management LLC Raises Stake in Alcoa Co. (NYSE:AA)

Geode Capital Management LLC boosted its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 4,232,766 shares of the industrial products company's stock after acquiring an additional 39,022 shares during the quarter. Geode Capital Management LLC owned about 1.64% of Alcoa worth $159,966,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AA. Vanguard Group Inc. increased its stake in shares of Alcoa by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock worth $981,491,000 after acquiring an additional 165,420 shares during the period. State Street Corp grew its position in Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company's stock worth $368,965,000 after purchasing an additional 1,805,915 shares during the period. Norges Bank purchased a new position in shares of Alcoa during the 4th quarter valued at about $259,273,000. ARGA Investment Management LP lifted its holdings in shares of Alcoa by 29.6% in the 4th 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 period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Alcoa by 8.1% in the fourth quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company's stock worth $96,372,000 after buying an additional 192,078 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company's stock.

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Alcoa Price Performance

Shares of NYSE:AA traded up $1.02 during trading on Friday, reaching $24.77. The stock had a trading volume of 7,471,819 shares, compared to its average volume of 5,463,116. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa Co. has a 1-year low of $21.53 and a 1-year high of $47.77. The stock has a market cap of $6.41 billion, a PE ratio of -154.78, a PEG ratio of 0.19 and a beta of 2.28. The business has a fifty day moving average price of $32.27 and a 200-day moving average price of $37.45.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.62%. Alcoa's dividend payout ratio is presently -250.00%.

Analyst Ratings Changes

Several research firms have commented on AA. JPMorgan Chase & Co. lowered their price objective on Alcoa from $40.00 to $28.00 and set a "neutral" rating on the stock in a research report on Thursday. Jefferies Financial Group dropped their price target 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. BMO Capital Markets upped their price objective on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. UBS Group lowered their target price on shares of Alcoa from $53.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Finally, Bank of America restated an "underperform" rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alcoa currently has an average rating of "Moderate Buy" and a consensus target price of $46.25.

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.