Ritholtz Wealth Management Raises Stock Holdings in Alcoa $AA

Ritholtz Wealth Management increased its stake in shares of Alcoa (NYSE:AA) by 201.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,125 shares of the industrial products company’s stock after purchasing an additional 39,484 shares during the period. Ritholtz Wealth Management’s holdings in Alcoa were worth $3,922,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mirabella Financial Services LLP lifted its holdings in shares of Alcoa by 12,233.1% during the 3rd quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after buying an additional 39,757,462 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Alcoa by 211.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock worth $332,338,000 after acquiring an additional 4,247,559 shares during the period. Castle Hook Partners LP bought a new stake in shares of Alcoa in the fourth quarter worth $210,874,000. Maple Rock Capital Partners Inc. purchased a new stake in Alcoa during the fourth quarter valued at $173,412,000. Finally, AQR Capital Management LLC increased its position in Alcoa by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 4,134,425 shares of the industrial products company’s stock valued at $219,703,000 after acquiring an additional 2,503,132 shares during the last quarter.

Alcoa Trading Up 1.2%

Shares of Alcoa stock opened at $52.91 on Friday. Alcoa has a fifty-two week low of $27.72 and a fifty-two week high of $84.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The company has a market capitalization of $13.96 billion, a P/E ratio of 13.40 and a beta of 1.56. The company has a fifty day moving average of $66.95 and a 200 day moving average of $62.52.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the firm earned $2.15 earnings per share. Alcoa’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Alcoa will post 8.48 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is 10.13%.

Analyst Ratings Changes

Several research analysts have issued reports on AA shares. Morgan Stanley set a $79.00 target price on Alcoa in a research report on Thursday, June 11th. Wells Fargo & Company reduced their price target on shares of Alcoa from $82.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday. Citigroup increased their price objective on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. BMO Capital Markets boosted their target price on shares of Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Finally, UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $80.00 in a report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.80.

Alcoa Company 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.