KLP Kapitalforvaltning AS Invests $1.49 Million in Alcoa Co. (NYSE:AA)

KLP Kapitalforvaltning AS bought a new position in shares of Alcoa Co. (NYSE:AA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 39,300 shares of the industrial products company's stock, valued at approximately $1,485,000.

Several other institutional investors and hedge funds have also made changes to their positions in AA. SBI Securities Co. Ltd. acquired a new position in Alcoa during the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after buying an additional 393 shares in the last quarter. Quarry LP purchased a new stake in shares of Alcoa during the 3rd quarter worth $43,000. Continuum Advisory LLC grew its stake in shares of Alcoa by 1,945.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock worth $46,000 after purchasing an additional 1,070 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 598 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AA. BMO Capital Markets upped their price objective on shares of Alcoa to $43.00 and gave the company a "hold" rating in a research note on Friday, January 17th. Bank of America increased their target price on Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Jefferies Financial Group cut their price objective 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. Morgan Stanley lowered 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, B. Riley upgraded Alcoa to a "strong-buy" rating in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.92.

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Alcoa Price Performance

Shares of AA traded down $0.16 during trading hours on Monday, hitting $30.50. 4,981,025 shares of the company were exchanged, compared to its average volume of 5,366,032. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa Co. has a fifty-two week low of $27.12 and a fifty-two week high of $47.77. The company has a market cap of $7.90 billion, a price-to-earnings ratio of -190.65, a P/E/G ratio of 0.19 and a beta of 2.55. The firm's fifty day moving average is $34.75 and its 200 day moving average is $38.19.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.31%. Alcoa's payout ratio is currently -250.00%.

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.