Cantor Fitzgerald L. P. Acquires New Stake in Alcoa $AA

Cantor Fitzgerald L. P. bought a new position in shares of Alcoa (NYSE:AA) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 12,803 shares of the industrial products company’s stock, valued at approximately $421,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in shares of Alcoa during the 3rd quarter valued at $27,000. Root Financial Partners LLC acquired a new stake in shares of Alcoa in the third quarter valued at $29,000. Orion Capital Management LLC acquired a new stake in shares of Alcoa in the third quarter valued at $33,000. Westfuller Advisors LLC bought a new position in Alcoa during the third quarter valued at about $35,000. Finally, NewEdge Advisors LLC grew its holdings in Alcoa by 91.9% during the third quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 556 shares during the period.

Alcoa Trading Down 1.7%

Shares of NYSE AA opened at $64.29 on Thursday. Alcoa has a 12 month low of $21.53 and a 12 month high of $68.40. The company has a market cap of $16.96 billion, a price-to-earnings ratio of 14.54 and a beta of 1.85. 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 business has a fifty day simple moving average of $61.71 and a 200-day simple moving average of $47.59.

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

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Alcoa’s dividend payout ratio (DPR) is 9.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a research note on Thursday, March 12th. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 target price on shares of Alcoa in a report on Monday, December 15th. Finally, UBS Group increased their target price on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.45.

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.