PNC Financial Services Group Inc. Has $7.33 Million Stock Holdings in Alcoa Co. (NYSE:AA)

PNC Financial Services Group Inc. increased its stake in shares of Alcoa Co. (NYSE:AA) by 5.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 193,955 shares of the industrial products company’s stock after buying an additional 9,287 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Alcoa were worth $7,328,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mountaineer Partners Management LLC increased its position in Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after purchasing an additional 10,534,036 shares in the last quarter. State Street Corp increased its position in Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the period. Geode Capital Management LLC increased its position in Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after acquiring an additional 1,239,479 shares during the period. ARGA Investment Management LP increased its position in Alcoa by 29.6% in the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after acquiring an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Alcoa by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock valued at $96,372,000 after acquiring an additional 192,078 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on AA shares. JPMorgan Chase & Co. upped their price target on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. BMO Capital Markets upped their price target on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. HC Wainwright upped their price target on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley decreased their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.17.

Alcoa Trading Up 3.1 %

NYSE:AA opened at $31.93 on Wednesday. The firm’s fifty day moving average is $35.68 and its 200-day moving average is $37.97. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa Co. has a 52 week low of $27.12 and a 52 week high of $47.77. The firm has a market cap of $8.27 billion, a P/E ratio of -199.54, a P/E/G ratio of 0.19 and a beta of 2.55.

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

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.25%. The ex-dividend date is Tuesday, March 4th. Alcoa’s dividend payout ratio is presently -250.00%.

About Alcoa

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.