International Assets Investment Management LLC Purchases Shares of 95,283 Alcoa Co. (NYSE:AA)

International Assets Investment Management LLC bought a new stake in shares of Alcoa Co. (NYSE:AA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 95,283 shares of the industrial products company’s stock, valued at approximately $32,400,000. International Assets Investment Management LLC owned about 0.05% of Alcoa as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC raised its position in Alcoa by 64.2% during the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 387 shares during the period. Central Bank & Trust Co. boosted its stake in Alcoa by 190.4% during the fourth quarter. Central Bank & Trust Co. now owns 2,384 shares of the industrial products company’s stock worth $81,000 after buying an additional 1,563 shares during the period. Signaturefd LLC boosted its stake in Alcoa by 53.0% during the third quarter. Signaturefd LLC now owns 2,661 shares of the industrial products company’s stock worth $77,000 after buying an additional 922 shares during the period. Larson Financial Group LLC bought a new position in Alcoa during the third quarter valued at $95,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Alcoa by 86.3% in the third quarter. Nisa Investment Advisors LLC now owns 4,070 shares of the industrial products company’s stock valued at $118,000 after acquiring an additional 1,885 shares during the period.

Insider Activity at Alcoa

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

Alcoa Stock Performance

Shares of NYSE:AA opened at $36.77 on Friday. 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 company has a market capitalization of $6.60 billion, a price-to-earnings ratio of -9.78, a price-to-earnings-growth ratio of 3.51 and a beta of 2.45. The firm has a 50 day moving average of $32.72 and a 200 day moving average of $29.61. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $38.20.

Alcoa (NYSE:AA) last issued 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). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the company earned ($0.23) earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AA. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. BMO Capital Markets raised their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Finally, Morgan Stanley upgraded shares of Alcoa from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $28.50 to $36.50 in a report on Monday, April 22nd. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $33.54.

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.