Van ECK Associates Corp Grows Stake in Alcoa $AA

Van ECK Associates Corp grew its holdings in shares of Alcoa (NYSE:AA) by 15.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 920,164 shares of the industrial products company’s stock after buying an additional 123,461 shares during the period. Van ECK Associates Corp owned 0.36% of Alcoa worth $30,264,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in shares of Alcoa during the 3rd quarter valued at about $29,000. Horrell Capital Management Inc. bought a new position in Alcoa in the second quarter worth about $30,000. Orion Capital Management LLC purchased a new stake in Alcoa in the third quarter worth about $33,000. Westfuller Advisors LLC purchased a new stake in Alcoa in the third quarter worth about $35,000. Finally, Huntington National Bank boosted its position in Alcoa by 167.9% during the 3rd quarter. Huntington National Bank now owns 1,259 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 789 shares in the last quarter.

Alcoa Trading Up 8.2%

Shares of NYSE AA opened at $66.35 on Thursday. The firm’s 50 day moving average price is $61.14 and its 200-day moving average price is $46.43. Alcoa has a 52-week low of $21.53 and a 52-week high of $68.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.44. The company has a market cap of $17.51 billion, a PE ratio of 15.01 and a beta of 1.85.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.31. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.04 earnings per share. On average, equities research analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

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

Wall Street Analysts Forecast Growth

AA has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. Zacks Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. Citigroup boosted their target price on shares of Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, UBS Group increased their price target on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.45.

Alcoa 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.