Franklin Resources Inc. Invests $1.63 Million in Alcoa Co. (NYSE:AA)

Franklin Resources Inc. acquired a new stake in Alcoa Co. (NYSE:AA) during the 4th quarter, Holdings Channel.com reports. The firm acquired 43,208 shares of the industrial products company’s stock, valued at approximately $1,632,000.

Several other hedge funds have also recently bought and sold shares of AA. Wellington Management Group LLP grew its stake in shares of Alcoa by 488.2% in the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company’s stock worth $30,320,000 after acquiring an additional 666,117 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in Alcoa by 6.1% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 9,029 shares of the industrial products company’s stock worth $341,000 after purchasing an additional 517 shares in the last quarter. California Public Employees Retirement System increased its holdings in Alcoa by 11.5% during the 4th quarter. California Public Employees Retirement System now owns 360,732 shares of the industrial products company’s stock worth $13,628,000 after purchasing an additional 37,303 shares during the period. Hartree Partners LP acquired a new stake in Alcoa in the 4th quarter valued at about $378,000. Finally, Pictet Asset Management Holding SA boosted its stake in shares of Alcoa by 23.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 39,540 shares of the industrial products company’s stock valued at $1,494,000 after buying an additional 7,554 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Up 0.7 %

Shares of NYSE:AA opened at $24.93 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The stock has a market cap of $6.45 billion, a P/E ratio of -155.81, a P/E/G ratio of 0.19 and a beta of 2.28. Alcoa Co. has a 1-year low of $21.53 and a 1-year high of $47.77. The firm has a fifty day moving average price of $32.05 and a 200 day moving average price of $37.34.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Sell-side analysts predict that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Tuesday, March 4th. Alcoa’s dividend payout ratio is presently -250.00%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AA shares. JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $40.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. BMO Capital Markets boosted their target price on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Bank of America restated an “underperform” rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Jefferies Financial Group lowered their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and a consensus price target of $46.25.

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.