Cantor Fitzgerald L. P. Takes $421,000 Position in Alcoa $AA

Cantor Fitzgerald L. P. acquired a new stake in shares of Alcoa (NYSE:AA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,803 shares of the industrial products company’s stock, valued at approximately $421,000.

A number of other large investors have also recently bought and sold shares of AA. NewEdge Advisors LLC grew its holdings in shares of Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 10,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alcoa by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock worth $19,722,000 after purchasing an additional 4,624 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Alcoa by 29.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,487 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 3,926 shares during the period. Savant Capital LLC boosted its position in Alcoa by 7.2% during the 2nd quarter. Savant Capital LLC now owns 8,711 shares of the industrial products company’s stock valued at $257,000 after purchasing an additional 582 shares during the period. Finally, ProShare Advisors LLC grew its stake in Alcoa by 4.3% during the 2nd quarter. ProShare Advisors LLC now owns 11,477 shares of the industrial products company’s stock worth $339,000 after buying an additional 470 shares during the last quarter.

Analyst Upgrades and Downgrades

AA has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded Alcoa from an “underweight” rating to a “neutral” rating and raised their target price for the company from $50.00 to $68.00 in a research note on Friday, March 13th. Zacks Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a report on Thursday, March 12th. UBS Group lifted their price objective on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Finally, Citigroup boosted their target price on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $50.45.

Alcoa Trading Down 1.7%

Shares of AA stock opened at $64.29 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.44. Alcoa has a 1 year low of $21.53 and a 1 year high of $68.40. The stock has a fifty day moving average of $61.71 and a two-hundred day moving average of $47.59. The firm has a market capitalization of $16.96 billion, a PE ratio of 14.54 and a beta of 1.85.

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

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.40 annualized dividend and a yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is presently 9.05%.

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.