Alcoa (NYSE:AA) Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in Alcoa (NYSE:AA) by 630.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 28,955 shares of the industrial products company’s stock after purchasing an additional 24,991 shares during the period. SG Americas Securities LLC’s holdings in Alcoa were worth $883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Alcoa by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company’s stock valued at $981,491,000 after buying an additional 165,420 shares during the period. Norges Bank acquired a new position in shares of Alcoa in the 4th quarter valued at about $259,273,000. Geode Capital Management LLC lifted its holdings in shares of Alcoa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company’s stock valued at $159,966,000 after buying an additional 39,022 shares during the period. Bank of New York Mellon Corp raised its holdings in Alcoa by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock worth $96,372,000 after purchasing an additional 192,078 shares during the period. Finally, Northern Trust Corp raised its holdings in Alcoa by 46.8% in the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company’s stock worth $96,324,000 after purchasing an additional 813,214 shares during the period.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on AA shares. Barclays upped their price target on Alcoa to $31.00 and gave the stock a “hold” rating in a report on Friday, May 16th. Bank of America reaffirmed an “underperform” rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. B. Riley reduced their price target on Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M UBS Group reaffirmed a “neutral” rating and issued a $31.00 price target on shares of Alcoa in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upped their price target on Alcoa from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $42.75.

Alcoa Stock Down 1.3%

NYSE:AA opened at $28.35 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.71 and a debt-to-equity ratio of 0.43. The stock’s fifty day moving average is $26.77 and its two-hundred day moving average is $32.45. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.16 and a beta of 2.26.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.42. Alcoa had a return on equity of 18.56% and a net margin of 6.79%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Research analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Tuesday, May 20th. Alcoa’s dividend payout ratio (DPR) is 12.05%.

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.