HB Wealth Management LLC Makes New $211,000 Investment in Alcoa Co. (NYSE:AA)

HB Wealth Management LLC purchased a new stake in shares of Alcoa Co. (NYSE:AA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,577 shares of the industrial products company’s stock, valued at approximately $211,000.

Several other large investors have also made changes to their positions in the company. Retirement Systems of Alabama raised its holdings in Alcoa by 41.6% in the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after acquiring an additional 92,201 shares during the period. ING Groep NV acquired a new stake in shares of Alcoa in the third quarter valued at about $10,201,000. Douglas Lane & Associates LLC increased its stake in shares of Alcoa by 2.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after purchasing an additional 27,217 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Alcoa by 6.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock worth $24,233,000 after purchasing an additional 36,869 shares during the last quarter. Finally, Aigen Investment Management LP boosted its stake in Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after purchasing an additional 15,546 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Bank of America increased their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday. BMO Capital Markets boosted their price target on Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. UBS Group raised their price objective on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley boosted their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.36.

Alcoa Trading Down 0.1 %

Shares of Alcoa stock opened at $37.33 on Friday. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The stock has a market capitalization of $9.64 billion, a P/E ratio of -233.28, a price-to-earnings-growth ratio of 0.16 and a beta of 2.47. The company has a 50-day simple moving average of $40.33 and a 200 day simple moving average of $37.64. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last posted its 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 net margin of 0.50% and a return on equity of 5.48%. Research analysts expect that Alcoa Co. will post 4.27 earnings per share for the current fiscal year.

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.