179,221 Shares in Alcoa $AA Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. purchased a new position in shares of Alcoa (NYSE:AA) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 179,221 shares of the industrial products company’s stock, valued at approximately $9,524,000.

Other hedge funds have also added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new stake in Alcoa during the 4th quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in Alcoa during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. lifted its holdings in Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the last quarter. CoreCap Advisors LLC increased its holdings 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 purchasing an additional 237 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Alcoa by 91.9% in the third 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 in the last quarter.

Alcoa Stock Performance

NYSE:AA opened at $71.81 on Friday. The stock has a fifty day moving average price of $68.79 and a 200-day moving average price of $60.16. 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 company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a fifty-two week low of $27.72 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA) last released its earnings results 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). The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 earnings per share. As a group, equities analysts anticipate that Alcoa will post 7.95 EPS for the current fiscal year.

Alcoa Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AA. Citigroup boosted their price target on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Weiss Ratings cut Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 1st. Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. UBS Group upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $75.00 to $80.00 in a research report on Friday, May 22nd. Finally, B. Riley Financial upped their target price on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.60.

Alcoa Company 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.