MetLife Investment Management LLC Purchases 12,047 Shares of Alcoa Co. (NYSE:AA)

MetLife Investment Management LLC boosted its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 9.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 145,433 shares of the industrial products company's stock after purchasing an additional 12,047 shares during the period. MetLife Investment Management LLC owned about 0.06% of Alcoa worth $5,494,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in shares of Alcoa during the fourth quarter worth $259,273,000. ARGA Investment Management LP increased its position in Alcoa by 29.6% in the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock worth $113,276,000 after purchasing an additional 684,505 shares during the period. Wellington Management Group LLP raised its holdings in Alcoa by 488.2% during the 4th quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock worth $30,320,000 after purchasing an additional 666,117 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Alcoa by 96.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company's stock valued at $40,240,000 after purchasing an additional 522,039 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Alcoa by 395.3% in the 4th quarter. Federated Hermes Inc. now owns 454,507 shares of the industrial products company's stock valued at $17,171,000 after purchasing an additional 362,737 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Stock Down 2.8 %

Shares of AA traded down $0.75 during midday trading on Friday, hitting $25.69. The stock had a trading volume of 5,292,757 shares, compared to its average volume of 5,430,605. The firm has a market cap of $6.65 billion, a price-to-earnings ratio of -160.56, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. The company has a 50 day simple moving average of $29.91 and a two-hundred day simple moving average of $36.47. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

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

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders 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 annualized dividend and a yield of 1.56%. Alcoa's payout ratio is currently 12.05%.

Analyst Ratings Changes

A number of equities research analysts recently commented on AA shares. Bank of America reaffirmed an "underperform" rating and set a $26.00 price objective (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. HC Wainwright upped their price target on Alcoa to $90.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. UBS Group reduced their price objective on shares of Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. B. Riley decreased their price objective on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, BMO Capital Markets increased their target price on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $44.17.

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.