Horizon Investments LLC Has $7.39 Million Stock Holdings in Alcoa $AA

Horizon Investments LLC increased its stake in shares of Alcoa (NYSE:AA) by 89.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 139,071 shares of the industrial products company’s stock after acquiring an additional 65,477 shares during the quarter. Horizon Investments LLC’s holdings in Alcoa were worth $7,390,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of AA. Nordea Investment Management AB lifted its position in shares of Alcoa by 187.7% in the 4th quarter. Nordea Investment Management AB now owns 408,624 shares of the industrial products company’s stock worth $21,902,000 after purchasing an additional 266,574 shares during the period. Moran Wealth Management LLC acquired a new stake in shares of Alcoa during the fourth quarter worth $2,631,000. Regal Partners Ltd raised its stake in Alcoa by 7.0% during the third quarter. Regal Partners Ltd now owns 451,940 shares of the industrial products company’s stock worth $14,864,000 after buying an additional 29,612 shares during the last quarter. Lighthouse Investment Partners LLC bought a new position in Alcoa during the third quarter worth $5,606,000. Finally, Alphadyne Asset Management LP acquired a new position in Alcoa in the third quarter valued at $2,467,000.

Analyst Ratings Changes

A number of brokerages have commented on AA. Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. UBS Group boosted their price objective on Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. BMO Capital Markets upped their target price on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised their target price on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company set a $68.00 target price on Alcoa in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $64.27.

Alcoa Trading Down 1.9%

NYSE:AA opened at $62.60 on Friday. 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 stock has a market capitalization of $16.52 billion, a price-to-earnings ratio of 15.85 and a beta of 1.52. The firm has a fifty day simple moving average of $64.93 and a two-hundred day simple moving average of $54.75. Alcoa has a 12 month low of $24.15 and a 12 month high of $75.70.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the firm posted $2.15 earnings per share. Analysts expect that Alcoa will post 7.95 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

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.