Wolverine Asset Management LLC Acquires New Shares in Alcoa Co. (NYSE:AA)

Wolverine Asset Management LLC acquired a new position in Alcoa Co. (NYSE:AA) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 10,000 shares of the industrial products company’s stock, valued at approximately $378,000.

A number of other hedge funds have also bought and sold shares of the business. Quarry LP bought a new position in shares of Alcoa during the 3rd quarter valued at $43,000. Continuum Advisory LLC increased its position in Alcoa by 1,945.5% during the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,070 shares during the last quarter. UMB Bank n.a. increased its position in Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 598 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Alcoa by 399.0% in the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 1,157 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in Alcoa in the third quarter worth about $89,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Trading Down 7.7 %

Alcoa stock opened at $34.40 on Monday. The stock has a market cap of $8.89 billion, a P/E ratio of -214.98, a PEG ratio of 0.21 and a beta of 2.43. Alcoa Co. has a 1 year low of $24.86 and a 1 year high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The firm’s 50 day moving average price is $36.93 and its 200-day moving average price is $37.92.

Alcoa (NYSE:AA) last issued its quarterly earnings data 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 return on equity of 5.54% and a net margin of 0.50%. On average, equities analysts predict that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.16%. Alcoa’s payout ratio is currently -250.00%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Bank of America increased their price objective on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Morgan Stanley decreased their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group lowered their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.55.

Alcoa Profile

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.