Alcoa Co. (NYSE:AA) Shares Bought by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC raised its position in Alcoa Co. (NYSE:AA) by 2.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,882 shares of the industrial products company’s stock after purchasing an additional 1,422 shares during the period. Commonwealth Equity Services LLC’s holdings in Alcoa were worth $2,057,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Spire Wealth Management grew its holdings in Alcoa by 252.5% in the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Alcoa during the fourth quarter valued at $31,000. Private Wealth Management Group LLC acquired a new stake in shares of Alcoa during the fourth quarter valued at $33,000. Quent Capital LLC boosted its stake in shares of Alcoa by 64.2% during the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 387 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of Alcoa during the fourth quarter valued at $39,000.

Analyst Ratings Changes

A number of analysts recently commented on the company. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $36.50 to $50.00 in a research note on Friday, June 21st. StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. UBS Group increased their target price on Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, April 19th. Citigroup increased their target price on Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, Jefferies Financial Group increased their target price on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Alcoa has a consensus rating of “Hold” and a consensus price target of $37.33.

Alcoa Stock Performance

AA stock traded up $0.23 during trading on Friday, reaching $42.61. 1,229,068 shares of the company’s stock were exchanged, compared to its average volume of 5,882,453. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $45.48. The company’s fifty day moving average price is $39.97 and its 200-day moving average price is $34.18. The firm has a market cap of $7.65 billion, a PE ratio of -11.27 and a beta of 2.45.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the company earned ($0.23) EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that Alcoa Co. will post 1.23 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Monday, May 20th. Alcoa’s dividend payout ratio is -10.64%.

Alcoa 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.