Tennessee Valley Asset Management Partners Invests $31,000 in Alcoa Co. (NYSE:AA)

Tennessee Valley Asset Management Partners purchased a new position in Alcoa Co. (NYSE:AA) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 905 shares of the industrial products company’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Quent Capital LLC lifted its position in shares of Alcoa by 64.2% in the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 387 shares during the period. Raymond James & Associates increased its stake in shares of Alcoa by 2.5% in the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock valued at $607,000 after acquiring an additional 501 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Alcoa by 3.1% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 26,826 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 813 shares in the last quarter. Signaturefd LLC increased its stake in shares of Alcoa by 53.0% in the 3rd quarter. Signaturefd LLC now owns 2,661 shares of the industrial products company’s stock valued at $77,000 after acquiring an additional 922 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Alcoa by 9.4% in the 3rd quarter. Moors & Cabot Inc. now owns 11,298 shares of the industrial products company’s stock valued at $328,000 after acquiring an additional 975 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Performance

NYSE AA opened at $36.05 on Wednesday. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $38.54. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of -9.59, a PEG ratio of 4.28 and a beta of 2.47. The company has a fifty day moving average price of $31.51 and a 200-day moving average price of $29.22.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company earned ($0.23) EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts predict that Alcoa Co. will post 0.17 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were paid a $0.10 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.11%. Alcoa’s payout ratio is -10.64%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. B. Riley lifted their price objective on shares of Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Bank of America lifted their price objective on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. UBS Group lifted their price objective on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, April 19th. Finally, BMO Capital Markets boosted their price target on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Alcoa currently has an average rating of “Hold” and a consensus target price of $33.54.

Insider Buying and Selling

In related news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.08% of the stock is owned by insiders.

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.