PNC Financial Services Group Inc. Has $7.33 Million Position in Alcoa Co. (NYSE:AA)

PNC Financial Services Group Inc. grew its position in Alcoa Co. (NYSE:AA) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,955 shares of the industrial products company’s stock after acquiring an additional 9,287 shares during the period. PNC Financial Services Group Inc. owned about 0.08% of Alcoa worth $7,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AA. Mountaineer Partners Management LLC grew its position in shares of Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after acquiring an additional 10,534,036 shares during the period. State Street Corp grew its position in shares of Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the period. Paloma Partners Management Co grew its position in shares of Alcoa by 11,317.8% in the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after acquiring an additional 1,415,294 shares during the period. Geode Capital Management LLC grew its position in shares of Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after acquiring an additional 1,239,479 shares during the period. Finally, Global Alpha Capital Management Ltd. bought a new position in shares of Alcoa in the 3rd quarter valued at about $36,165,000. Institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AA shares. Morgan Stanley decreased their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group reduced their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, Bank of America lifted their target price on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.17.

Alcoa Price Performance

Shares of NYSE:AA opened at $31.93 on Wednesday. The firm has a 50 day moving average of $35.68 and a 200-day moving average of $37.97. The stock has a market capitalization of $8.27 billion, a PE ratio of -199.54, a PEG ratio of 0.19 and a beta of 2.55. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 12 month low of $27.12 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, equities research analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Tuesday, March 4th. Alcoa’s payout ratio is presently -250.00%.

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.