Alcoa Co. (NYSE:AA) Shares Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its holdings in shares of Alcoa Co. (NYSE:AA) by 59.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 174,200 shares of the industrial products company’s stock after buying an additional 65,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Alcoa were worth $6,581,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after buying an additional 296 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Alcoa during the 4th quarter valued at $29,000. Smartleaf Asset Management LLC grew its holdings in Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 393 shares in the last quarter. UMB Bank n.a. increased its position in shares of Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 598 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,157 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on AA shares. JPMorgan Chase & Co. lowered their price objective on Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. B. Riley lowered 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 reduced their price target on shares of Alcoa from $47.00 to $32.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Jefferies Financial Group lowered their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, HC Wainwright raised their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $44.17.

Alcoa Stock Up 0.3 %

Shares of Alcoa stock opened at $23.39 on Tuesday. Alcoa Co. has a 1-year low of $21.53 and a 1-year high of $47.77. The company has a market capitalization of $6.06 billion, a P/E ratio of -146.19, a PEG ratio of 0.19 and a beta of 2.28. The business’s fifty day moving average price is $30.80 and its two-hundred day moving average price is $36.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.42. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, research analysts forecast that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. Alcoa’s dividend payout ratio is presently 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.