Scotia Capital Inc. Acquires Shares of 5,879 Alcoa Co. (NYSE:AA)

Scotia Capital Inc. bought a new position in shares of Alcoa Co. (NYSE:AA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,879 shares of the industrial products company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. lifted its stake in shares of Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 296 shares during the period. SBI Securities Co. Ltd. acquired a new position in Alcoa during the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its stake in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 393 shares during the last quarter. UMB Bank n.a. grew its position in shares of Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after buying an additional 598 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after buying an additional 1,157 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Alcoa Price Performance

Shares of NYSE AA opened at $24.67 on Wednesday. The company has a fifty day moving average price of $31.82 and a 200 day moving average price of $37.25. Alcoa Co. has a 1-year low of $21.53 and a 1-year high of $47.77. The firm has a market cap of $6.39 billion, a PE ratio of -154.16, a PEG ratio of 0.19 and a beta of 2.28. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) 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%. Research analysts predict that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.62%. Alcoa’s payout ratio is currently -250.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on AA shares. HC Wainwright raised their price objective on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Morgan Stanley cut their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. BMO Capital Markets boosted their target price on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Bank of America reissued an “underperform” rating and set a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Finally, B. Riley raised shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

About Alcoa

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.