Federated Hermes Inc. Has $17.17 Million Holdings in Alcoa Co. (NYSE:AA)

Federated Hermes Inc. boosted its stake in Alcoa Co. (NYSE:AA) by 395.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 454,507 shares of the industrial products company’s stock after buying an additional 362,737 shares during the period. Federated Hermes Inc.’s holdings in Alcoa were worth $17,171,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SBI Securities Co. Ltd. bought a new stake in Alcoa during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC lifted its position in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 393 shares in the last quarter. Quarry LP bought a new position in Alcoa in the 3rd quarter valued at about $43,000. Continuum Advisory LLC lifted its position in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,070 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after buying an additional 598 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AA has been the subject of several analyst reports. HC Wainwright increased their price objective on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. UBS Group reduced their price target on shares of Alcoa from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Jefferies Financial Group reduced their price target 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, 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.25.

Alcoa Stock Performance

Shares of NYSE:AA opened at $25.84 on Thursday. The company has a market cap of $6.69 billion, a price-to-earnings ratio of -161.47, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. The company has a 50-day moving average price of $32.71 and a 200-day moving average price of $37.62. 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 Co. has a 12 month low of $21.53 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, equities analysts anticipate that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

About Alcoa

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.