Alerus Financial NA Purchases New Stake in Alcoa Co. (NYSE:AA)

Alerus Financial NA bought a new stake in shares of Alcoa Co. (NYSE:AAGet Rating) in the 1st quarter, HoldingsChannel reports. The fund bought 11,518 shares of the industrial products company’s stock, valued at approximately $1,037,000.

Several other institutional investors have also recently added to or reduced their stakes in AA. Envestnet Asset Management Inc. increased its stake in Alcoa by 27.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 22,303 shares of the industrial products company’s stock valued at $1,329,000 after purchasing an additional 4,833 shares during the last quarter. Raymond James & Associates grew its position in shares of Alcoa by 41.7% during the fourth quarter. Raymond James & Associates now owns 53,371 shares of the industrial products company’s stock worth $3,180,000 after acquiring an additional 15,700 shares during the last quarter. Baird Financial Group Inc. bought a new position in shares of Alcoa during the fourth quarter worth about $299,000. AlphaCrest Capital Management LLC grew its position in shares of Alcoa by 104.1% during the fourth quarter. AlphaCrest Capital Management LLC now owns 15,722 shares of the industrial products company’s stock worth $937,000 after acquiring an additional 8,018 shares during the last quarter. Finally, Securian Asset Management Inc. bought a new position in shares of Alcoa during the fourth quarter worth about $998,000.

Alcoa Price Performance

Shares of NYSE AA opened at $48.86 on Friday. Alcoa Co. has a twelve month low of $39.56 and a twelve month high of $98.09. The company has a current ratio of 1.81, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 9.60, a PEG ratio of 0.68 and a beta of 2.31. The firm has a 50-day moving average of $48.44 and a two-hundred day moving average of $63.03.

Alcoa (NYSE:AAGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, missing analysts’ consensus estimates of $3.71 by ($1.04). Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the previous year, the company posted $1.49 earnings per share. Alcoa’s revenue was up 28.6% compared to the same quarter last year. As a group, analysts expect that Alcoa Co. will post 7.26 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Monday, August 8th. Alcoa’s dividend payout ratio is presently 7.86%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. BMO Capital Markets lowered their price target on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. The Goldman Sachs Group lowered their price target on shares of Alcoa from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, July 22nd. Morgan Stanley lowered their price target on shares of Alcoa from $55.00 to $51.00 and set an “equal weight” rating for the company in a research report on Monday, July 25th. B. Riley reduced their price objective on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, June 28th. Finally, Credit Suisse Group reduced their price objective on shares of Alcoa from $82.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $78.64.

Alcoa Profile

(Get Rating)

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 three segments: Bauxite, 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.

Featured Articles

Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa Co. (NYSE:AAGet Rating).

Institutional Ownership by Quarter for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.