8,178 Shares in Alcoa $AA Acquired by Providence First Trust Co

Providence First Trust Co purchased a new position in shares of Alcoa (NYSE:AA) in the 4th quarter, Holdings Channel reports. The firm purchased 8,178 shares of the industrial products company’s stock, valued at approximately $435,000.

Several other large investors also recently made changes to their positions in AA. NewEdge Advisors LLC increased its position in shares of Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alcoa by 0.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after acquiring an additional 4,624 shares in the last quarter. Invesco Ltd. increased its position in shares of Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after acquiring an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Alcoa by 320.1% in the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after acquiring an additional 205,717 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Price Performance

Shares of NYSE AA opened at $63.25 on Thursday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $16.69 billion, a price-to-earnings ratio of 16.01 and a beta of 1.51. Alcoa has a twelve month low of $24.15 and a twelve month high of $75.70. The business has a 50 day simple moving average of $65.05 and a 200-day simple moving average of $55.26.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the business earned $2.15 earnings per share. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Analyst Ratings Changes

AA has been the subject of several recent research reports. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $64.00 to $80.00 in a research report on Thursday, April 9th. Zacks Research raised shares of Alcoa from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 10th. B. Riley Financial increased their price objective on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, BMO Capital Markets increased their price objective on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Alcoa currently has an average rating of “Hold” and an average target price of $64.27.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.