NorthCrest Asset Manangement LLC Makes New Investment in Alcoa $AA

NorthCrest Asset Manangement LLC acquired a new stake in Alcoa (NYSE:AA) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,983 shares of the industrial products company’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new position in Alcoa during the 3rd quarter worth $27,000. Root Financial Partners LLC purchased a new stake in Alcoa during the 3rd quarter worth about $29,000. Orion Capital Management LLC acquired a new stake in Alcoa in the 3rd quarter valued at about $33,000. Westfuller Advisors LLC acquired a new stake in Alcoa in the 3rd quarter valued at about $35,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Alcoa by 91.9% in the 3rd quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock valued at $38,000 after buying an additional 556 shares during the period. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Alcoa Trading Up 3.6%

NYSE:AA opened at $58.72 on Thursday. Alcoa has a 1 year low of $21.53 and a 1 year high of $68.40. The stock has a market cap of $15.49 billion, a P/E ratio of 13.28 and a beta of 1.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.44. The stock has a 50-day simple moving average of $61.03 and a 200-day simple moving average of $48.49.

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

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. Alcoa’s dividend payout ratio (DPR) is presently 9.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. UBS Group boosted their price objective on Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. JPMorgan Chase & Co. raised shares of Alcoa from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $50.00 to $68.00 in a research report on Friday, March 13th. Finally, B. Riley Financial restated a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.45.

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.