6,229 Shares in Alcoa Co. (NYSE:AA) Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC bought a new stake in shares of Alcoa Co. (NYSE:AA) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,229 shares of the industrial products company’s stock, valued at approximately $210,000.

Several other hedge funds also recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners acquired a new position in Alcoa in the fourth quarter valued at $31,000. Private Wealth Management Group LLC purchased a new position in shares of Alcoa during the 4th quarter worth about $33,000. Quent Capital LLC grew its holdings in Alcoa by 64.2% in the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 387 shares during the period. Scarborough Advisors LLC acquired a new position in Alcoa during the fourth quarter worth approximately $39,000. Finally, Quest Partners LLC purchased a new position in Alcoa during the fourth quarter worth approximately $40,000.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AA shares. B. Riley upped their price objective on Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a report on Friday, April 19th. BMO Capital Markets boosted their target price on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. UBS Group raised their price target on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday, April 19th. Finally, Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $36.50 to $50.00 in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $37.33.

Alcoa Trading Down 1.5 %

Shares of AA opened at $38.82 on Friday. Alcoa Co. has a one year low of $23.07 and a one year high of $45.48. The stock has a 50-day moving average price of $39.47 and a 200 day moving average price of $33.70. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 1.61. The company has a market capitalization of $6.97 billion, a P/E ratio of -10.32 and a beta of 2.46.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. During the same period in the previous year, the business posted ($0.23) EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Alcoa Co. will post 0.54 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.03%. Alcoa’s payout ratio is -10.64%.

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.