Baird Financial Group Inc. Has $479,000 Position in Alcoa Co. (NYSE:AA)

Baird Financial Group Inc. lifted its stake in shares of Alcoa Co. (NYSE:AAGet Rating) by 37.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,513 shares of the industrial products company’s stock after purchasing an additional 2,882 shares during the quarter. Baird Financial Group Inc.’s holdings in Alcoa were worth $479,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AA. Emerson Wealth LLC bought a new position in shares of Alcoa during the 2nd quarter worth about $29,000. Fairfield Bush & CO. bought a new position in Alcoa in the 1st quarter valued at about $29,000. Cullen Frost Bankers Inc. bought a new position in Alcoa in the 1st quarter valued at about $45,000. Evoke Wealth LLC lifted its position in Alcoa by 160.7% in the 2nd quarter. Evoke Wealth LLC now owns 1,160 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 715 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in Alcoa by 19.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,232 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 200 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AA shares. TheStreet cut shares of Alcoa from a “b-” rating to a “c-” rating in a research report on Wednesday, October 19th. BMO Capital Markets dropped their price target on shares of Alcoa from $40.00 to $35.00 and set a “market perform” rating on the stock in a research report on Thursday, October 20th. StockNews.com started coverage on shares of Alcoa in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Wolfe Research lowered shares of Alcoa from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 22nd. Finally, UBS Group started coverage on shares of Alcoa in a research note on Thursday, October 6th. They issued a “neutral” rating and a $43.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Alcoa has an average rating of “Hold” and a consensus target price of $69.42.

Alcoa Trading Down 1.4 %

Shares of AA stock opened at $46.63 on Tuesday. The company has a 50 day moving average of $41.00 and a 200-day moving average of $48.26. The company has a quick ratio of 1.00, a current ratio of 1.81 and a debt-to-equity ratio of 0.25. Alcoa Co. has a 12-month low of $33.55 and a 12-month high of $98.09. The firm has a market cap of $8.25 billion, a P/E ratio of -55.51, a PEG ratio of 1.04 and a beta of 2.37.

Alcoa (NYSE:AAGet Rating) last released its quarterly earnings data on Wednesday, October 19th. The industrial products company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.42). Alcoa had a negative net margin of 0.91% and a positive return on equity of 22.27%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts anticipate that Alcoa Co. will post 4.74 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Investors of record on Tuesday, November 1st were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, October 31st. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. Alcoa’s dividend payout ratio is -47.62%.

Alcoa Company Profile

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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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