Wellington Management Group LLP Raises Stock Holdings in Alcoa Co. (NYSE:AA)

Wellington Management Group LLP grew its stake in shares of Alcoa Co. (NYSE:AA) by 488.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 802,547 shares of the industrial products company’s stock after buying an additional 666,117 shares during the period. Wellington Management Group LLP’s holdings in Alcoa were worth $30,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AA. Captrust Financial Advisors boosted its position in shares of Alcoa by 20.4% in the third quarter. Captrust Financial Advisors now owns 6,208 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 1,050 shares during the period. Verition Fund Management LLC boosted its holdings in Alcoa by 18.7% in the 3rd quarter. Verition Fund Management LLC now owns 17,953 shares of the industrial products company’s stock worth $693,000 after buying an additional 2,823 shares during the period. Janus Henderson Group PLC increased its stake in Alcoa by 318.9% in the 3rd quarter. Janus Henderson Group PLC now owns 349,341 shares of the industrial products company’s stock worth $13,479,000 after buying an additional 265,941 shares in the last quarter. Quarry LP bought a new stake in Alcoa during the third quarter valued at about $43,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Alcoa in the third quarter valued at about $253,000. 82.39% of the stock is currently owned by institutional investors.

Alcoa Stock Down 9.3 %

Shares of AA opened at $24.79 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 52-week low of $23.62 and a 52-week high of $47.77. The company has a market cap of $6.42 billion, a PE ratio of -154.96, a P/E/G ratio of 0.19 and a beta of 2.28. The business has a fifty day moving average of $33.79 and a 200 day moving average of $38.02.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, sell-side analysts expect that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.61%. Alcoa’s payout ratio is -250.00%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AA. HC Wainwright increased their target price on Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. UBS Group cut their price objective on shares of Alcoa from $53.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Morgan Stanley lowered their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. BMO Capital Markets raised their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Finally, Bank of America boosted their price target on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $49.92.

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.