Sei Investments Co. Buys 48,649 Shares of Alcoa $AA

Sei Investments Co. grew its stake in shares of Alcoa (NYSE:AA) by 9.2% in the 1st quarter, Holdings Channel.com reports. The fund owned 579,259 shares of the industrial products company’s stock after acquiring an additional 48,649 shares during the period. Sei Investments Co.’s holdings in Alcoa were worth $38,422,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AA. Moran Wealth Management LLC purchased a new stake in Alcoa during the 4th quarter valued at about $2,631,000. Merit Financial Group LLC raised its holdings in Alcoa by 114.2% in the fourth quarter. Merit Financial Group LLC now owns 28,945 shares of the industrial products company’s stock worth $1,538,000 after buying an additional 15,432 shares during the last quarter. Drummond Knight Asset Management Pty Ltd raised its holdings in Alcoa by 14.1% in the fourth quarter. Drummond Knight Asset Management Pty Ltd now owns 1,060,523 shares of the industrial products company’s stock worth $56,356,000 after buying an additional 130,915 shares during the last quarter. Evergreen Capital Management LLC bought a new position in shares of Alcoa in the fourth quarter worth approximately $1,399,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Alcoa by 278.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 67,093 shares of the industrial products company’s stock valued at $3,565,000 after buying an additional 49,354 shares during the last quarter.

Analyst Ratings Changes

AA has been the subject of a number of recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a report on Friday, July 17th. BMO Capital Markets cut their target price on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, July 17th. JPMorgan Chase & Co. reduced their target price on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, July 17th. Bank of America decreased their price target on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research note on Thursday, July 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $61.09.

Alcoa Price Performance

NYSE AA opened at $44.20 on Monday. The company has a 50-day moving average price of $59.57 and a 200-day moving average price of $62.13. Alcoa has a 52 week low of $28.11 and a 52 week high of $84.38. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $11.66 billion, a P/E ratio of 9.10, a PEG ratio of 0.50 and a beta of 1.63.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the previous year, the business posted $0.39 EPS. Equities research analysts anticipate that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

About Alcoa

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.