Carmel Capital Partners LLC Acquires 1,961 Shares of Alcoa Co. (NYSE:AA)

Carmel Capital Partners LLC increased its holdings in Alcoa Co. (NYSE:AA) by 9.5% during the 4th quarter, Holdings Channel reports. The firm owned 22,662 shares of the industrial products company’s stock after buying an additional 1,961 shares during the period. Carmel Capital Partners LLC’s holdings in Alcoa were worth $856,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of AA. Mountaineer Partners Management LLC grew its stake in shares of Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after purchasing an additional 10,534,036 shares during the last quarter. State Street Corp grew its stake in shares of Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after purchasing an additional 1,805,915 shares during the last quarter. Paloma Partners Management Co boosted its position in Alcoa by 11,317.8% during 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 in the last quarter. Geode Capital Management LLC boosted its position in Alcoa by 42.0% during 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 in the last quarter. Finally, Global Alpha Capital Management Ltd. bought a new stake in Alcoa during the 3rd quarter valued at approximately $36,165,000. 82.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. BMO Capital Markets lifted their price objective on Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Bank of America lifted their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group cut their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $46.55.

Alcoa Stock Performance

Shares of AA opened at $32.38 on Thursday. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average price is $36.26 and its 200-day moving average price is $38.01. Alcoa Co. has a 52 week low of $26.90 and a 52 week high of $47.77. The stock has a market cap of $8.38 billion, a P/E ratio of -202.34, a P/E/G ratio of 0.19 and a beta of 2.43.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate 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. Investors of record on Tuesday, March 4th will be given a $0.10 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.24%. Alcoa’s dividend payout ratio (DPR) 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.