Wellington Shields Capital Management LLC Invests $1.03 Million in Alcoa $AA

Wellington Shields Capital Management LLC bought a new position in shares of Alcoa (NYSE:AA) during the fourth quarter, HoldingsChannel reports. The fund bought 19,390 shares of the industrial products company’s stock, valued at approximately $1,030,000.

Other hedge funds have also modified their holdings of the company. Advisory Services Network LLC purchased a new position in shares of Alcoa during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. grew its position in shares of 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 last quarter. Root Financial Partners LLC purchased a new position in shares of Alcoa during the third quarter worth approximately $29,000. CoreCap Advisors LLC grew its position in shares of 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 last quarter. Finally, Westfuller Advisors LLC purchased a new position in shares of Alcoa during the third quarter worth approximately $35,000.

Alcoa Stock Performance

NYSE:AA opened at $71.43 on Tuesday. The firm’s fifty day moving average price is $65.85 and its 200 day moving average price is $57.82. Alcoa has a 1-year low of $25.83 and a 1-year high of $75.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. The firm has a market cap of $18.85 billion, a price-to-earnings ratio of 18.08 and a beta of 1.51.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the business earned $2.15 earnings per share. The business’s quarterly revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts expect that Alcoa will post 7.95 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 19th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is 10.13%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AA. Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a research report on Thursday, March 12th. UBS Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the stock from $75.00 to $80.00 in a research report on Friday. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. B. Riley Financial raised their target price on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, Citigroup lifted their price objective on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.60.

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.