Leuthold Group LLC Buys New Stake in Alcoa $AA

Leuthold Group LLC bought a new stake in shares of Alcoa (NYSE:AA) during the 4th quarter, Holdings Channel.com reports. The firm bought 49,245 shares of the industrial products company’s stock, valued at approximately $2,617,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Nordea Investment Management AB boosted its position in Alcoa by 187.7% in the fourth quarter. Nordea Investment Management AB now owns 408,624 shares of the industrial products company’s stock valued at $21,902,000 after buying an additional 266,574 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in Alcoa in the fourth quarter valued at approximately $2,631,000. Regal Partners Ltd boosted its position in Alcoa by 7.0% in the third quarter. Regal Partners Ltd now owns 451,940 shares of the industrial products company’s stock valued at $14,864,000 after buying an additional 29,612 shares in the last quarter. Lighthouse Investment Partners LLC acquired a new stake in Alcoa in the third quarter valued at approximately $5,606,000. Finally, Alphadyne Asset Management LP acquired a new stake in Alcoa in the third quarter valued at approximately $2,467,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AA shares. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Citigroup lifted their price target on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Argus set a $73.00 target price on Alcoa in a research report on Monday, April 27th. Finally, Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.60.

Alcoa Trading Down 0.1%

NYSE:AA opened at $62.45 on Monday. The firm has a market cap of $16.48 billion, a P/E ratio of 15.81 and a beta of 1.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a 52 week low of $25.83 and a 52 week high of $75.70. The firm’s fifty day moving average is $65.35 and its 200-day moving average is $56.58.

Alcoa (NYSE:AA) last released its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. Alcoa’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.15 EPS. Equities analysts expect that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 19th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.40 annualized dividend and a yield of 0.6%. Alcoa’s payout ratio is presently 10.13%.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.