CIBC Asset Management Inc Invests $205,000 in Alcoa Co. (NYSE:AA)

CIBC Asset Management Inc bought a new position in Alcoa Co. (NYSE:AA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,433 shares of the industrial products company’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Creative Planning grew its position in shares of Alcoa by 33.4% during the 3rd quarter. Creative Planning now owns 31,817 shares of the industrial products company’s stock valued at $1,227,000 after buying an additional 7,964 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Alcoa by 65.5% during the 3rd quarter. Private Advisor Group LLC now owns 15,366 shares of the industrial products company’s stock valued at $593,000 after buying an additional 6,083 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Alcoa by 68.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,130 shares of the industrial products company’s stock valued at $352,000 after buying an additional 3,724 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Alcoa by 55.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 30,005 shares of the industrial products company’s stock valued at $1,157,000 after buying an additional 10,726 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Alcoa by 44.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 16,642 shares of the industrial products company’s stock valued at $642,000 after buying an additional 5,147 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Wall Street Analyst Weigh In

AA has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Morgan Stanley decreased their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, BMO Capital Markets upped their target price on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Trading Down 2.1 %

Shares of NYSE:AA opened at $33.66 on Thursday. The company has a 50 day moving average of $36.71 and a 200-day moving average of $37.95. The firm has a market cap of $8.71 billion, a P/E ratio of -210.38, a P/E/G ratio of 0.19 and a beta of 2.43. Alcoa Co. has a twelve month low of $25.20 and a twelve month high of $47.77. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, March 4th. Alcoa’s dividend payout ratio is presently -250.00%.

Alcoa 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.