Alcoa $AA Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Alcoa (NYSE:AA) by 513.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,042 shares of the industrial products company’s stock after acquiring an additional 10,079 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Alcoa were worth $640,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. NewEdge Advisors LLC grew its position in shares of Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alcoa by 0.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after purchasing an additional 4,624 shares during the period. Invesco Ltd. grew its position in shares of Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after purchasing an additional 12,008 shares during the period. EverSource Wealth Advisors LLC grew its position in shares of Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,295 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Alcoa by 320.1% during the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after acquiring an additional 205,717 shares during the last quarter.

Alcoa Trading Down 1.3%

AA opened at $72.48 on Wednesday. Alcoa has a one year low of $27.72 and a one year high of $84.38. The stock has a market capitalization of $19.13 billion, a PE ratio of 18.35 and a beta of 1.56. The business’s 50 day moving average price is $69.39 and its 200 day moving average price is $60.84. 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 (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 analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $2.15 earnings per share. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. As a group, equities research analysts expect that Alcoa will post 7.95 EPS for the current year.

Alcoa Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Argus set a $73.00 target price on Alcoa in a report on Monday, April 27th. Weiss Ratings cut shares of Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. B. Riley Financial lifted their target price on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Wells Fargo & Company set a $68.00 target price on shares of Alcoa in a research note on Thursday, March 12th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.