KLP Kapitalforvaltning AS Takes Position in Alcoa Co. (NYSE:AA)

KLP Kapitalforvaltning AS acquired a new position in Alcoa Co. (NYSE:AA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,300 shares of the industrial products company's stock, valued at approximately $1,485,000.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Alcoa by 32.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company's stock worth $72,862,000 after buying an additional 467,986 shares during the period. Cerity Partners LLC boosted its stake in Alcoa by 64.9% during the third quarter. Cerity Partners LLC now owns 26,206 shares of the industrial products company's stock worth $1,011,000 after acquiring an additional 10,314 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Alcoa by 71.8% in the third quarter. Daiwa Securities Group Inc. now owns 35,900 shares of the industrial products company's stock worth $1,385,000 after purchasing an additional 15,000 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Alcoa by 18.1% during the third quarter. The Manufacturers Life Insurance Company now owns 306,162 shares of the industrial products company's stock valued at $11,812,000 after purchasing an additional 46,897 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Alcoa by 14.7% during the third quarter. Glenmede Trust Co. NA now owns 89,791 shares of the industrial products company's stock valued at $3,464,000 after purchasing an additional 11,484 shares during the last quarter. 82.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AA has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Alcoa from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, January 16th. B. Riley upgraded Alcoa to a "strong-buy" rating in a report on Tuesday, January 21st. UBS Group dropped their price target 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. Morgan Stanley reduced their price objective on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Finally, HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $49.92.

Alcoa Stock Performance

AA stock traded up $0.69 on Wednesday, hitting $30.83. The company had a trading volume of 6,272,504 shares, compared to its average volume of 5,357,796. The stock has a market cap of $7.98 billion, a price-to-earnings ratio of -192.69, a P/E/G ratio of 0.19 and a beta of 2.55. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The stock's 50-day simple moving average is $34.24 and its 200 day simple moving average is $38.11. Alcoa Co. has a 12-month low of $27.12 and a 12-month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, equities research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current fiscal 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. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.30%. Alcoa's dividend payout ratio (DPR) is -250.00%.

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.