Cetera Investment Advisers Acquires 63,319 Shares of Alcoa $AA

Cetera Investment Advisers grew its holdings in Alcoa (NYSE:AA) by 196.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 95,609 shares of the industrial products company’s stock after purchasing an additional 63,319 shares during the quarter. Cetera Investment Advisers’ holdings in Alcoa were worth $6,342,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC increased its stake in shares of Alcoa by 3.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock valued at $341,000 after buying an additional 170 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in Alcoa by 1.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after buying an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its holdings in Alcoa by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after acquiring an additional 229 shares during the last quarter. CoreCap Advisors LLC grew its holdings in Alcoa by 74.1% during the 4th 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, Crossmark Global Holdings Inc. increased its position in Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock valued at $722,000 after acquiring an additional 241 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AA shares. UBS Group decreased their price target on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Wells Fargo & Company decreased their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday. B. Riley Financial cut their price target on Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Argus decreased their price target on Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $61.09.

Alcoa Price Performance

Alcoa stock opened at $45.31 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $11.96 billion, a P/E ratio of 9.32, a PEG ratio of 0.51 and a beta of 1.63. The business has a 50-day moving average of $57.44 and a 200-day moving average of $61.49. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, equities analysts anticipate that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.9%. Alcoa’s dividend payout ratio (DPR) is 8.23%.

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.