Victory Capital Management Inc. Increases Stock Position in Alcoa Co. (NYSE:AA)

Victory Capital Management Inc. raised its stake in shares of Alcoa Co. (NYSE:AA) by 96.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,065,125 shares of the industrial products company’s stock after purchasing an additional 522,039 shares during the period. Victory Capital Management Inc. owned 0.41% of Alcoa worth $40,240,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Alcoa by 68.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,130 shares of the industrial products company’s stock valued at $352,000 after purchasing an additional 3,724 shares in the last quarter. US Bancorp DE lifted its position in Alcoa by 14.3% during the third quarter. US Bancorp DE now owns 10,482 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 1,310 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Alcoa by 21.5% in the 3rd quarter. QRG Capital Management Inc. now owns 7,781 shares of the industrial products company’s stock worth $300,000 after buying an additional 1,378 shares in the last quarter. Confluence Investment Management LLC increased its holdings in shares of Alcoa by 14.3% in the 3rd quarter. Confluence Investment Management LLC now owns 13,063 shares of the industrial products company’s stock worth $504,000 after buying an additional 1,635 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Alcoa by 180.2% during the 3rd quarter. Lindbrook Capital LLC now owns 7,660 shares of the industrial products company’s stock valued at $296,000 after buying an additional 4,926 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AA. B. Riley upgraded Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets lifted their target price on Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Jefferies Financial Group decreased 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. JPMorgan Chase & Co. raised their price target on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Finally, Bank of America boosted their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and an average price target of $46.55.

Alcoa Trading Up 0.0 %

NYSE AA opened at $32.84 on Friday. The stock has a market cap of $8.50 billion, a PE ratio of -205.27, a PEG ratio of 0.19 and a beta of 2.55. Alcoa Co. has a 12 month low of $27.12 and a 12 month high of $47.77. The company’s 50-day moving average price is $35.92 and its 200-day moving average price is $37.96. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 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%. Equities research analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Tuesday, March 4th. Alcoa’s dividend payout ratio is -250.00%.

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.