Neuberger Berman Group LLC Raises Holdings in Alcoa $AA

Neuberger Berman Group LLC boosted its stake in shares of Alcoa (NYSE:AA) by 6.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,199 shares of the industrial products company’s stock after acquiring an additional 1,442 shares during the quarter. Neuberger Berman Group LLC’s holdings in Alcoa were worth $685,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in shares of Alcoa by 5.6% during the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock worth $2,367,000 after acquiring an additional 4,255 shares during the period. Strs Ohio acquired a new stake in Alcoa during the first quarter worth approximately $841,000. Drummond Knight Asset Management Pty Ltd acquired a new stake in shares of Alcoa during the second quarter worth about $44,893,000. Voya Investment Management LLC boosted its holdings in shares of Alcoa by 4.3% in the first quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company’s stock valued at $35,895,000 after acquiring an additional 48,604 shares during the period. Finally, Prospera Financial Services Inc purchased a new position in Alcoa during the 2nd quarter worth $270,000.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. UBS Group lifted their target price on Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Morgan Stanley set a $43.50 target price on shares of Alcoa in a report on Friday, October 24th. 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 note on Thursday, October 23rd. B. Riley upped their target price on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Finally, Zacks Research upgraded shares of Alcoa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and a consensus target price of $42.35.

Alcoa Stock Up 1.1%

Shares of NYSE AA opened at $42.02 on Friday. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. Alcoa has a 12-month low of $21.53 and a 12-month high of $46.78. The company has a market cap of $10.88 billion, a P/E ratio of 9.70, a P/E/G ratio of 0.22 and a beta of 2.26. The stock has a fifty day moving average price of $36.62 and a 200 day moving average price of $32.34.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.13. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.Alcoa’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. Research analysts anticipate that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. Alcoa’s payout ratio is 9.24%.

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.