Bleakley Financial Group LLC Buys New Position in Alcoa $AA

Bleakley Financial Group LLC bought a new stake in shares of Alcoa (NYSE:AA) in the 4th quarter, HoldingsChannel.com reports. The firm bought 10,177 shares of the industrial products company’s stock, valued at approximately $541,000.

Several other hedge funds have also modified their holdings of the stock. Wellington Shields Capital Management LLC purchased a new stake in shares of Alcoa during the fourth quarter valued at $1,030,000. Harbour Investments Inc. lifted its holdings in shares of Alcoa by 83.2% during the fourth quarter. Harbour Investments Inc. now owns 872 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 396 shares during the last quarter. Clearstead Trust LLC lifted its holdings in shares of Alcoa by 431.7% during the fourth quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 613 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in shares of Alcoa by 212.6% during the fourth quarter. Clearstead Advisors LLC now owns 1,091 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 742 shares during the last quarter. Finally, Hantz Financial Services Inc. lifted its holdings in shares of Alcoa by 67.9% during the fourth quarter. Hantz Financial Services Inc. now owns 10,574 shares of the industrial products company’s stock valued at $562,000 after purchasing an additional 4,275 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AA shares. B. Riley Financial upped their target price on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 7th. Citigroup upped their target price on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a report on Monday, March 16th. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. upped their target price on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Five 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. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and an average price target of $68.60.

Alcoa Stock Performance

Shares of AA stock opened at $77.59 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. Alcoa has a fifty-two week low of $25.83 and a fifty-two week high of $77.72. The stock’s 50-day moving average is $66.66 and its two-hundred day moving average is $58.75. The firm has a market cap of $20.48 billion, a P/E ratio of 19.64 and a beta of 1.51.

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 analysts’ consensus estimates of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.15 EPS. Analysts predict that Alcoa will post 7.95 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.5%. Alcoa’s dividend payout ratio is currently 10.13%.

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.