13,453 Shares in Alcoa $AA Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd acquired a new position in shares of Alcoa (NYSE:AA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,453 shares of the industrial products company’s stock, valued at approximately $714,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AA. Mirabella Financial Services LLP grew its stake in shares of Alcoa by 12,233.1% in the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after buying an additional 39,757,462 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alcoa by 211.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after buying an additional 4,247,559 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Alcoa by 13.5% in the third quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company’s stock valued at $365,710,000 after buying an additional 1,322,540 shares in the last quarter. Norges Bank acquired a new stake in shares of Alcoa in the fourth quarter valued at $67,582,000. Finally, Man Group plc grew its stake in shares of Alcoa by 12,588.2% in the third quarter. Man Group plc now owns 1,164,902 shares of the industrial products company’s stock valued at $38,314,000 after buying an additional 1,155,721 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AA shares. B. Riley Financial lifted their price objective on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $64.00 to $80.00 in a research note on Thursday, April 9th. UBS Group raised Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $80.00 in a research note on Friday, May 22nd. Argus set a $73.00 target price on Alcoa in a research note on Monday, April 27th. Finally, Wells Fargo & Company set a $68.00 target price on Alcoa in a research note on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $68.60.

Alcoa Stock Performance

Shares of AA stock opened at $71.81 on Friday. The company has a market cap of $18.95 billion, a price-to-earnings ratio of 18.18 and a beta of 1.56. The stock has a 50 day simple moving average of $68.79 and a 200-day simple moving average of $60.16. Alcoa has a 12-month low of $27.72 and a 12-month high of $84.38. 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 (NYSE:AA) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.15 earnings per share. On average, equities analysts forecast that Alcoa will post 7.95 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio is 10.13%.

Alcoa 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.