Neuberger Berman Group LLC Acquires 502,961 Shares of Alcoa $AA

Neuberger Berman Group LLC boosted its stake in Alcoa (NYSE:AA) by 2,168.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 526,160 shares of the industrial products company’s stock after acquiring an additional 502,961 shares during the quarter. Neuberger Berman Group LLC’s holdings in Alcoa were worth $17,325,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in shares of Alcoa during the third quarter worth $29,000. Horrell Capital Management Inc. acquired a new stake in shares of Alcoa in the 2nd quarter valued at about $30,000. Orion Capital Management LLC acquired a new stake in Alcoa in the third quarter valued at approximately $33,000. Westfuller Advisors LLC acquired a new stake in Alcoa in the 3rd quarter valued at $35,000. Finally, Huntington National Bank increased its position in shares of Alcoa by 167.9% during the third quarter. Huntington National Bank now owns 1,259 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 789 shares in the last quarter.

Alcoa Stock Performance

NYSE:AA opened at $59.53 on Friday. Alcoa has a twelve month low of $21.53 and a twelve month high of $68.40. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $60.59 and its 200 day simple moving average is $45.74. The stock has a market cap of $15.71 billion, a P/E ratio of 13.47 and a beta of 1.85.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.95 by $0.31. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 earnings per share. As a group, research analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. Alcoa’s payout ratio is currently 9.05%.

Wall Street Analyst Weigh In

AA has been the subject of several recent analyst reports. UBS Group upped their target price on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. JPMorgan Chase & Co. restated an “underweight” rating and set a $50.00 price target (up from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. Citigroup increased their price target on shares of Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Finally, B. Riley Financial reissued a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Five investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Alcoa presently has an average rating of “Hold” and an average target price of $48.25.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.