Alcoa Co. (NYSE:AA) Shares Bought by Confluence Investment Management LLC

Confluence Investment Management LLC grew its holdings in shares of Alcoa Co. (NYSE:AAGet Rating) by 30.9% during the second quarter, Holdings Channel reports. The firm owned 7,648 shares of the industrial products company’s stock after acquiring an additional 1,806 shares during the quarter. Confluence Investment Management LLC’s holdings in Alcoa were worth $349,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Moors & Cabot Inc. increased its holdings in shares of Alcoa by 2.2% in the first quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock valued at $788,000 after buying an additional 185 shares in the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Alcoa in the first quarter valued at $25,000. Arizona State Retirement System increased its holdings in shares of Alcoa by 0.6% in the first quarter. Arizona State Retirement System now owns 50,577 shares of the industrial products company’s stock valued at $4,553,000 after buying an additional 283 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Alcoa by 27.3% in the first quarter. Koshinski Asset Management Inc. now owns 1,393 shares of the industrial products company’s stock valued at $125,000 after buying an additional 299 shares in the last quarter. Finally, Fairfield Bush & CO. acquired a new stake in Alcoa during the 1st quarter valued at $29,000.

Alcoa Price Performance

NYSE:AA opened at $42.46 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 1.02. The firm’s fifty day moving average price is $48.86 and its two-hundred day moving average price is $61.75. Alcoa Co. has a one year low of $39.56 and a one year high of $98.09. The company has a market cap of $7.64 billion, a P/E ratio of 8.34, a P/E/G ratio of 0.61 and a beta of 2.31.

Alcoa (NYSE:AAGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.67 EPS for the quarter, missing the consensus estimate of $3.71 by ($1.04). Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same quarter last year, the company posted $1.49 earnings per share. The company’s revenue was up 28.6% on a year-over-year basis. Equities analysts expect that Alcoa Co. will post 7.26 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Investors of record on Tuesday, August 9th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $0.40 annualized dividend and a yield of 0.94%. Alcoa’s dividend payout ratio is 7.86%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AA shares. BMO Capital Markets cut their target price on shares of Alcoa from $57.00 to $55.00 in a research note on Thursday, July 21st. The Goldman Sachs Group cut their target price on shares of Alcoa from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $51.00 to $66.00 in a research note on Friday. Credit Suisse Group cut their target price on shares of Alcoa from $82.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 19th. Finally, B. Riley cut their target price on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 28th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $80.00.

Alcoa Company Profile

(Get Rating)

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 three segments: Bauxite, 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.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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