Moran Wealth Management LLC Increases Stake in Alcoa $AA

Moran Wealth Management LLC lifted its stake in Alcoa (NYSE:AA) by 22.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 60,862 shares of the industrial products company’s stock after buying an additional 11,346 shares during the quarter. Moran Wealth Management LLC’s holdings in Alcoa were worth $4,037,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AA. PFG Investments LLC purchased a new position in Alcoa during the first quarter valued at $207,000. World Investment Advisors boosted its holdings in shares of Alcoa by 11.8% during the 1st quarter. World Investment Advisors now owns 5,184 shares of the industrial products company’s stock valued at $344,000 after purchasing an additional 549 shares during the last quarter. Sierra Summit Advisors LLC purchased a new position in shares of Alcoa during the first quarter valued at about $993,000. Optas LLC purchased a new position in shares of Alcoa during the first quarter valued at about $217,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Alcoa during the first quarter valued at about $7,979,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AA shares. Citigroup boosted their target price on Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. BMO Capital Markets raised their price target on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. Royal Bank Of Canada set a $70.00 price objective on Alcoa in a research note on Wednesday. UBS Group decreased their price objective on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a research report on Wednesday. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.82.

Alcoa Stock Down 0.0%

Shares of NYSE AA opened at $48.66 on Monday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Alcoa has a 12-month low of $28.11 and a 12-month high of $84.38. The firm’s 50-day moving average price is $64.86 and its 200-day moving average price is $62.76. The stock has a market capitalization of $12.84 billion, a price-to-earnings ratio of 12.32 and a beta of 1.63.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the business posted $2.15 EPS. The company’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts anticipate that Alcoa will post 7.41 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is presently 10.13%.

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.