Zurcher Kantonalbank Zurich Cantonalbank Increases Position in Alcoa Co. (NYSE:AA)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Alcoa Co. (NYSE:AA) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,367 shares of the industrial products company’s stock after purchasing an additional 2,190 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alcoa were worth $1,678,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in Alcoa in the third quarter valued at approximately $1,408,000. Handelsbanken Fonder AB grew its position in shares of Alcoa by 92.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 166,121 shares of the industrial products company’s stock valued at $4,827,000 after buying an additional 79,802 shares during the last quarter. Raymond James & Associates raised its stake in Alcoa by 2.5% during the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 501 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Alcoa by 12.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 38,317 shares of the industrial products company’s stock valued at $1,113,000 after acquiring an additional 4,272 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new position in Alcoa in the third quarter valued at $283,000.

Alcoa Price Performance

Alcoa stock opened at $36.07 on Thursday. The firm has a market capitalization of $6.48 billion, a PE ratio of -9.59, a P/E/G ratio of 4.38 and a beta of 2.47. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $38.20. The firm’s 50-day simple moving average is $31.51 and its 200 day simple moving average is $29.22. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the firm posted ($0.23) EPS. The business’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts predict that Alcoa Co. will post 0.17 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s payout ratio is -10.64%.

Analyst Ratings Changes

AA has been the topic of a number of research analyst reports. Bank of America lifted their target price on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. BMO Capital Markets increased their price objective on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. UBS Group lifted their target price on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday, April 19th. Morgan Stanley upgraded shares of Alcoa from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $28.50 to $36.50 in a research report on Monday. Finally, Jefferies Financial Group raised their price objective on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.54.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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.