Jacobs Levy Equity Management Inc. Purchases New Position in Alcoa Co. (NYSE:AA)

Jacobs Levy Equity Management Inc. acquired a new stake in Alcoa Co. (NYSE:AA) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 107,095 shares of the industrial products company’s stock, valued at approximately $4,046,000.

A number of other large investors also recently modified their holdings of the stock. Ballentine Partners LLC raised its stake in shares of Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after buying an additional 279 shares during the last quarter. Bessemer Group Inc. raised 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 worth $26,000 after buying an additional 296 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Alcoa by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 300 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in shares of Alcoa by 5.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after buying an additional 328 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Alcoa by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock worth $365,000 after buying an additional 339 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. B. Riley dropped their price target on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M StockNews.com raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. Morgan Stanley lowered their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lowered their target price on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $44.17.

Alcoa Stock Up 2.7%

Alcoa stock opened at $29.42 on Thursday. The stock has a market capitalization of $7.62 billion, a PE ratio of -183.88, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $27.90 and a 200-day moving average of $35.12.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. On average, equities research analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.36%. The ex-dividend date is Tuesday, May 20th. Alcoa’s payout ratio is 12.05%.

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.