Neuberger Berman Group LLC Increases Stock Holdings in Alcoa $AA

Neuberger Berman Group LLC boosted its stake in Alcoa (NYSE:AA) by 2,168.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 526,160 shares of the industrial products company’s stock after buying an additional 502,961 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.20% of Alcoa worth $17,325,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of AA. Lesa Sroufe & Co raised its holdings in shares of Alcoa by 0.5% in the 3rd quarter. Lesa Sroufe & Co now owns 75,504 shares of the industrial products company’s stock worth $2,483,000 after buying an additional 349 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Alcoa by 3.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 11,581 shares of the industrial products company’s stock valued at $381,000 after buying an additional 362 shares in the last quarter. Captrust Financial Advisors grew its position in Alcoa by 4.0% in the second quarter. Captrust Financial Advisors now owns 11,617 shares of the industrial products company’s stock valued at $343,000 after acquiring an additional 452 shares during the period. ProShare Advisors LLC raised its stake in Alcoa by 4.3% during the second quarter. ProShare Advisors LLC now owns 11,477 shares of the industrial products company’s stock worth $339,000 after acquiring an additional 470 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Alcoa by 0.4% during the third quarter. Amalgamated Bank now owns 118,325 shares of the industrial products company’s stock worth $3,892,000 after acquiring an additional 504 shares in the last quarter.

Analyst Ratings Changes

Several brokerages have recently commented on AA. Weiss Ratings restated a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a research report on Friday, January 23rd. JPMorgan Chase & Co. restated an “underweight” rating and issued a $50.00 price target (up from $45.00) on shares of Alcoa in a research report on Thursday, January 8th. Citigroup upped their price objective on shares of Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Finally, Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.25.

Alcoa Stock Performance

AA stock opened at $59.53 on Friday. The company has a current ratio of 1.44, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $60.59 and its two-hundred day moving average price is $45.74. Alcoa has a 1-year low of $21.53 and a 1-year high of $68.40. The firm has a market cap of $15.71 billion, a PE ratio of 13.47 and a beta of 1.85.

Alcoa (NYSE:AA) last released its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. The firm had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.04 EPS. As a group, research analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, March 10th. Alcoa’s payout ratio is currently 9.05%.

About Alcoa

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.