ARGA Investment Management LP Boosts Stock Position in Alcoa Co. (NYSE:AA)

ARGA Investment Management LP increased its position in Alcoa Co. (NYSE:AA) by 29.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,998,311 shares of the industrial products company’s stock after buying an additional 684,505 shares during the quarter. Alcoa comprises approximately 3.7% of ARGA Investment Management LP’s holdings, making the stock its 10th largest position. ARGA Investment Management LP owned approximately 1.16% of Alcoa worth $113,276,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Ballentine Partners LLC boosted its position in shares of Alcoa by 3.2% in the 4th quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 279 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Alcoa by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after buying an additional 339 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock worth $128,000 after buying an additional 344 shares during the period. CreativeOne Wealth LLC increased its position in shares of Alcoa by 4.1% in the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 360 shares in the last quarter. Finally, YHB Investment Advisors Inc. raised its holdings in shares of Alcoa by 3.6% during the fourth quarter. YHB Investment Advisors Inc. now owns 12,810 shares of the industrial products company’s stock valued at $484,000 after acquiring an additional 447 shares during the period.

Alcoa Stock Performance

AA stock opened at $36.27 on Wednesday. The firm has a 50 day moving average of $38.80 and a two-hundred day moving average of $37.51. Alcoa Co. has a 12 month low of $24.86 and a 12 month high of $47.77. The company has a market capitalization of $9.37 billion, a price-to-earnings ratio of -226.66, a P/E/G ratio of 0.20 and a beta of 2.43. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last issued its quarterly earnings data 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 net margin of 0.50% and a return on equity of 5.54%. As a group, equities analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group raised their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Jefferies Financial Group lowered their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, B. Riley raised shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $46.55.

Alcoa 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.