Raymond James Financial Inc. Purchases New Stake in Alcoa Co. (NYSE:AA)

Raymond James Financial Inc. acquired a new position in shares of Alcoa Co. (NYSE:AA - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 43,381 shares of the industrial products company's stock, valued at approximately $1,639,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Alcoa during the 4th quarter worth about $29,000. Smartleaf Asset Management LLC boosted its position in Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after acquiring an additional 393 shares during the last quarter. Quarry LP purchased a new stake in Alcoa in the 3rd quarter worth approximately $43,000. Continuum Advisory LLC grew its stake in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock worth $46,000 after acquiring an additional 1,070 shares during the period. Finally, UMB Bank n.a. raised its holdings in 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 acquiring an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

AA has been the subject of several analyst reports. Morgan Stanley dropped their target price on Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. UBS Group dropped their price objective on shares of Alcoa from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday, March 27th. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. HC Wainwright upped their price target on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Finally, Bank of America lifted their price target on shares of Alcoa to $58.00 and gave the company a "buy" rating in a report on Friday, January 24th. Four investment 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.92.

Alcoa Stock Down 9.3 %

Shares of NYSE AA traded down $2.54 on Friday, hitting $24.79. The company had a trading volume of 13,138,908 shares, compared to its average volume of 5,369,557. 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 12-month low of $23.62 and a 12-month high of $47.77. The firm has a market capitalization of $6.42 billion, a P/E ratio of -154.96, a PEG ratio of 0.19 and a beta of 2.28. The business has a 50 day moving average of $33.79 and a two-hundred day moving average of $38.02.

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 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 forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.61%. Alcoa's dividend payout ratio is currently -250.00%.

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.