23,293 Shares in Alcoa $AA Bought by RFG Advisory LLC

RFG Advisory LLC bought a new stake in shares of Alcoa (NYSE:AA) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,293 shares of the industrial products company’s stock, valued at approximately $1,545,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. OP Asset Management Ltd bought a new position in shares of Alcoa during the 1st quarter valued at about $197,000. Assenagon Asset Management S.A. bought a new stake in shares of Alcoa in the first quarter worth about $32,751,000. Cidel Asset Management Inc. purchased a new stake in shares of Alcoa in the first quarter worth about $258,000. Evolve Private Wealth LLC lifted its position in shares of Alcoa by 6.1% in the first quarter. Evolve Private Wealth LLC now owns 6,601 shares of the industrial products company’s stock worth $438,000 after buying an additional 378 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its stake in Alcoa by 4,124.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 38,233 shares of the industrial products company’s stock valued at $2,032,000 after buying an additional 37,328 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company cut their price target on Alcoa from $82.00 to $71.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. upped their price objective on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, UBS Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $80.00 in a research report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $68.80.

Alcoa Trading Up 1.8%

Shares of NYSE AA opened at $54.04 on Friday. Alcoa has a 1-year low of $27.72 and a 1-year high of $84.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. The business’s 50 day moving average is $66.62 and its two-hundred day moving average is $62.46. The stock has a market capitalization of $14.26 billion, a P/E ratio of 13.68 and a beta of 1.56.

Alcoa (NYSE:AA) last posted its quarterly earnings data 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). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the business earned $2.15 earnings per share. Alcoa’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts expect that Alcoa will post 7.54 EPS for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend 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.