Alcoa $AA Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lifted its position in Alcoa (NYSE:AA) by 513.4% in the fourth quarter, Holdings Channel reports. The firm owned 12,042 shares of the industrial products company’s stock after acquiring an additional 10,079 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Alcoa were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Prime Capital Investment Advisors LLC increased its holdings in shares of Alcoa by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock valued at $568,000 after acquiring an additional 204 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after buying an additional 229 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after buying an additional 241 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Alcoa by 1.5% during the third quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock worth $740,000 after buying an additional 324 shares during the period.

Wall Street Analysts Forecast Growth

AA has been the subject of several recent research reports. BMO Capital Markets increased their target price on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $64.00 to $80.00 in a report on Thursday, April 9th. Weiss Ratings lowered Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, June 1st. Citigroup boosted their target price on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a report on Monday, March 16th. Finally, B. Riley Financial raised their target price on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Alcoa currently has an average rating of “Hold” and a consensus target price of $68.60.

Alcoa Trading Down 1.3%

Shares of AA opened at $72.48 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $69.39 and its two-hundred day moving average is $60.84. Alcoa has a twelve month low of $27.72 and a twelve month high of $84.38. The firm has a market capitalization of $19.13 billion, a P/E ratio of 18.35 and a beta of 1.56.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. Alcoa’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.15 earnings per share. On average, research analysts predict that Alcoa will post 7.95 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s payout ratio is currently 10.13%.

About Alcoa

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.