Choreo LLC Purchases Shares of 24,219 Alcoa Co. (NYSE:AA)

Choreo LLC acquired a new position in Alcoa Co. (NYSE:AA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 24,219 shares of the industrial products company’s stock, valued at approximately $823,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AA. Daiwa Securities Group Inc. increased its holdings in shares of Alcoa by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock worth $900,000 after purchasing an additional 338 shares during the last quarter. Quent Capital LLC increased its stake in Alcoa by 64.2% in the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 387 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Alcoa by 2.5% during the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 501 shares in the last quarter. Yousif Capital Management LLC raised its holdings in shares of Alcoa by 0.7% during the 4th quarter. Yousif Capital Management LLC now owns 87,960 shares of the industrial products company’s stock worth $2,991,000 after acquiring an additional 574 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Alcoa by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 272,527 shares of the industrial products company’s stock valued at $9,266,000 after acquiring an additional 712 shares during the last quarter.

Wall Street Analysts Forecast Growth

AA has been the subject of several research reports. Morgan Stanley upgraded shares of Alcoa from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $28.50 to $36.50 in a research report on Monday, April 22nd. BMO Capital Markets lifted their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. JPMorgan Chase & Co. lifted their target price on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. Finally, Bank of America boosted their target price on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $33.54.

Insider Activity

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alcoa Trading Down 2.6 %

NYSE AA opened at $34.24 on Thursday. The stock has a market cap of $6.15 billion, a PE ratio of -9.11, a PEG ratio of 3.86 and a beta of 2.47. Alcoa Co. has a 12 month low of $23.07 and a 12 month high of $38.20. The company’s 50-day moving average price is $32.43 and its 200-day moving average price is $29.53. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. Alcoa’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm earned ($0.23) earnings per share. Equities research analysts forecast that Alcoa Co. will post 0.2 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.17%. Alcoa’s payout ratio is currently -10.64%.

Alcoa Company 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.