Shelton Wealth Management LLC Acquires New Stake in Alcoa $AA

Shelton Wealth Management LLC acquired a new stake in Alcoa (NYSE:AA) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,520 shares of the industrial products company’s stock, valued at approximately $698,000.

A number of other large investors have also modified their holdings of AA. Basepoint Wealth LLC purchased a new position in shares of Alcoa in the fourth quarter worth about $25,000. Raleigh Capital Management Inc. raised its holdings in Alcoa by 52,500.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 525 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the last quarter. Finally, Quarry LP grew its position in shares of Alcoa by 96.0% in the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 340 shares in the last quarter.

Wall Street Analyst Weigh In

AA has been the topic of a number of analyst reports. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Argus set a $73.00 price target on Alcoa in a report on Monday, April 27th. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. UBS Group cut their price objective on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $79.00 target price on shares of Alcoa in a research note on Wednesday, July 1st. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $66.36.

Alcoa Trading Down 3.4%

Shares of NYSE AA traded down $1.68 during trading on Tuesday, reaching $48.19. The stock had a trading volume of 1,742,108 shares, compared to its average volume of 6,459,049. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The company has a market cap of $12.72 billion, a P/E ratio of 12.20 and a beta of 1.63. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The business’s 50-day moving average price is $64.56 and its 200-day moving average price is $62.78.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.15 earnings per share. On average, equities research analysts predict that Alcoa will post 7.41 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 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.