Norges Bank Makes New Investment in Alcoa Co. (NYSE:AA)

Norges Bank purchased a new stake in shares of Alcoa Co. (NYSE:AA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,862,711 shares of the industrial products company's stock, valued at approximately $259,273,000. Norges Bank owned 2.66% of Alcoa as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the business. Ballentine Partners LLC increased its position in shares of Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company's stock valued at $339,000 after acquiring an additional 279 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company's stock worth $1,988,000 after purchasing an additional 300 shares during the period. Wilmington Savings Fund Society FSB increased its holdings in Alcoa by 5.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company's stock valued at $246,000 after purchasing an additional 328 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company's stock valued at $365,000 after purchasing an additional 339 shares during the period. Finally, CreativeOne Wealth LLC lifted its stake in Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company's stock worth $352,000 after purchasing an additional 360 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

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Alcoa Stock Down 0.5 %

NYSE AA traded down $0.16 during trading on Monday, reaching $30.50. 4,981,025 shares of the company's stock were exchanged, compared to its average volume of 5,366,035. The company has a 50 day moving average price of $34.57 and a two-hundred day moving average price of $38.18. The stock has a market cap of $7.90 billion, a P/E ratio of -190.65, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. Alcoa Co. has a 1 year low of $27.12 and a 1 year high of $47.77. 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 (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating 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 research analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AA shares. Jefferies Financial Group dropped their price objective on Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, January 6th. UBS Group dropped their target price on Alcoa from $53.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday. Morgan Stanley reduced their price target on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Bank of America lifted their price objective on shares of Alcoa to $58.00 and gave the company a "buy" rating in a report on Friday, January 24th. Finally, HC Wainwright increased their target price on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $49.92.

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.