13,371 Shares in Alcoa Co. (NYSE:AA) Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management bought a new stake in shares of Alcoa Co. (NYSE:AA) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,371 shares of the industrial products company’s stock, valued at approximately $454,000.

A number of other hedge funds have also recently modified their holdings of the business. Tennessee Valley Asset Management Partners bought a new stake in Alcoa during the 4th quarter valued at about $31,000. Quent Capital LLC boosted its holdings in shares of Alcoa by 64.2% in 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. Bourgeon Capital Management LLC boosted its holdings in shares of Alcoa by 100.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 2,000 shares of the industrial products company’s stock valued at $68,000 after purchasing an additional 1,000 shares during the period. Signaturefd LLC grew its stake in Alcoa by 53.0% in the third quarter. Signaturefd LLC now owns 2,661 shares of the industrial products company’s stock worth $77,000 after purchasing an additional 922 shares in the last quarter. Finally, Central Bank & Trust Co. increased its holdings in Alcoa by 190.4% during the 4th quarter. Central Bank & Trust Co. now owns 2,384 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 1,563 shares during the period. Institutional investors own 82.39% of the company’s stock.

Insider Buying and Selling

In other news, EVP Tammi A. Jones sold 26,468 shares of the company’s stock in a transaction that occurred 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 directly owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.08% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group upped their price target 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. BMO Capital Markets increased their target price on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Morgan Stanley raised Alcoa from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $28.50 to $36.50 in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised their price objective on Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.54.

Alcoa Trading Down 2.5 %

Shares of NYSE:AA opened at $36.64 on Thursday. The business’s 50 day moving average price is $33.59 and its 200-day moving average price is $29.95. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $38.20. The firm has a market capitalization of $6.58 billion, a price-to-earnings ratio of -9.74, a price-to-earnings-growth ratio of 3.77 and a beta of 2.45. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93.

Alcoa (NYSE:AA) last issued its quarterly earnings results 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 net margin of 6.41% and a negative return on equity of 8.51%. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the business posted ($0.23) earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s dividend payout ratio is currently -10.64%.

Alcoa Company Profile

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.