24,219 Shares in Alcoa Co. (NYSE:AA) Acquired by Choreo LLC

Choreo LLC purchased a new position in Alcoa Co. (NYSE:AA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,219 shares of the industrial products company’s stock, valued at approximately $823,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Alcoa during the 3rd quarter worth about $39,557,000. Raymond James & Associates raised its holdings in Alcoa by 3,731.1% during the fourth quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock worth $27,190,000 after purchasing an additional 778,831 shares in the last quarter. Monaco Asset Management SAM lifted its position in shares of Alcoa by 1,362.5% during the 3rd quarter. Monaco Asset Management SAM now owns 585,000 shares of the industrial products company’s stock worth $17,000,000 after buying an additional 545,000 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Alcoa by 61.7% in the 4th quarter. Russell Investments Group Ltd. now owns 904,407 shares of the industrial products company’s stock valued at $30,751,000 after buying an additional 345,004 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Alcoa by 7.4% in the 3rd quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock valued at $93,457,000 after buying an additional 222,884 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AA. B. Riley boosted their price target on shares of Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. Jefferies Financial Group boosted their target price on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, April 18th. BMO Capital Markets boosted their price objective on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. UBS Group raised their target price on shares of Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, April 19th. Finally, Bank of America upped their price target on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.54.

Alcoa Stock Down 2.6 %

Shares of NYSE:AA opened at $34.24 on Thursday. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $38.20. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $32.43 and its 200-day simple moving average is $29.53. The company has a market cap of $6.15 billion, a price-to-earnings ratio of -9.11, a PEG ratio of 3.86 and a beta of 2.47.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. Alcoa’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) EPS. As a group, equities research analysts predict that Alcoa Co. will post 0.2 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.17%. The ex-dividend date was Monday, March 4th. Alcoa’s payout ratio is -10.64%.

Insider Buying and Selling at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.