9,400 Shares in Alcoa $AA Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. bought a new position in shares of Alcoa (NYSE:AA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,400 shares of the industrial products company’s stock, valued at approximately $500,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raleigh Capital Management Inc. grew its holdings in Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 525 shares during the period. CoreCap Advisors LLC grew its holdings in Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 237 shares during the period. Hilltop National Bank acquired a new stake in Alcoa during the fourth quarter worth about $40,000. True Wealth Design LLC grew its holdings in Alcoa by 2,281.3% during the fourth quarter. True Wealth Design LLC now owns 762 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 730 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Alcoa during the third quarter worth about $27,000. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Stock Up 2.2%

Shares of AA opened at $63.83 on Friday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Alcoa has a 12 month low of $24.15 and a 12 month high of $75.70. The stock’s 50 day moving average is $64.93 and its two-hundred day moving average is $54.62. The firm has a market cap of $16.84 billion, a P/E ratio of 16.16 and a beta of 1.70.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $2.15 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts predict that Alcoa will post 7.33 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. Alcoa’s payout ratio is currently 10.13%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AA. UBS Group raised their target price on Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wells Fargo & Company set a $68.00 price objective on Alcoa in a report on Thursday, March 12th. B. Riley Financial raised their price objective on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Argus set a $73.00 price objective on Alcoa in a report on Monday. Finally, BMO Capital Markets raised their price objective on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $64.27.

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.