Cibc World Market Inc. Has $2.94 Million Holdings in Alcoa $AA

Cibc World Market Inc. boosted its stake in shares of Alcoa (NYSE:AA) by 22.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 55,315 shares of the industrial products company’s stock after buying an additional 10,031 shares during the quarter. Cibc World Market Inc.’s holdings in Alcoa were worth $2,939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the stock. Mirabella Financial Services LLP raised its stake in Alcoa by 12,233.1% during the 3rd quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after purchasing an additional 39,757,462 shares during the last quarter. State Street Corp raised its stake in Alcoa by 6.7% during the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock valued at $376,871,000 after purchasing an additional 721,063 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Alcoa by 13.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company’s stock valued at $365,710,000 after purchasing an additional 1,322,540 shares during the last quarter. Geode Capital Management LLC raised its stake in Alcoa by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after purchasing an additional 349,426 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Alcoa by 211.7% during the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after purchasing an additional 4,247,559 shares during the last quarter.

Alcoa Stock Up 2.2%

AA opened at $73.50 on Tuesday. The firm’s 50-day simple moving average is $69.11 and its 200-day simple moving average is $60.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a twelve month low of $27.72 and a twelve month high of $84.38. The firm has a market cap of $19.40 billion, a price-to-earnings ratio of 18.61 and a beta of 1.56.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the company posted $2.15 EPS. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Alcoa will post 7.95 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. Alcoa’s dividend payout ratio is presently 10.13%.

Wall Street Analyst Weigh In

AA has been the subject of several research analyst reports. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. B. Riley Financial upped their target price on shares of Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 7th. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $64.00 to $80.00 in a research note on Thursday, April 9th. Citigroup increased their price objective on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research note on Monday, March 16th. Finally, Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a research note on Thursday, March 12th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alcoa presently has an average rating of “Hold” and a consensus target price of $68.60.

Alcoa Company 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.