Ritholtz Wealth Management Purchases 39,484 Shares of Alcoa $AA

Ritholtz Wealth Management grew its position in shares of Alcoa (NYSE:AA) by 201.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 59,125 shares of the industrial products company’s stock after acquiring an additional 39,484 shares during the period. Ritholtz Wealth Management’s holdings in Alcoa were worth $3,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. NewEdge Advisors LLC raised its holdings in Alcoa by 1,098.0% in the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Alcoa by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after buying an additional 4,624 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Alcoa by 1.9% during the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after buying an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after buying an additional 1,295 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Alcoa by 320.1% in the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after buying an additional 205,717 shares during the period.

Analyst Ratings Changes

A number of brokerages recently issued reports on AA. Wells Fargo & Company lowered their price target on shares of Alcoa from $82.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday. BMO Capital Markets raised their target price on shares of Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. boosted their price target on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Morgan Stanley set a $79.00 price target on Alcoa in a research note on Thursday, June 11th. Finally, B. Riley Financial upped their price target on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.80.

Alcoa Stock Performance

Shares of Alcoa stock opened at $52.91 on Friday. Alcoa has a 1 year low of $27.72 and a 1 year high of $84.38. The firm’s 50-day moving average is $66.95 and its 200 day moving average is $62.52. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 13.40 and a beta of 1.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 earnings per share. Sell-side analysts anticipate that Alcoa will post 8.48 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is 10.13%.

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.