Beaconlight Capital LLC Acquires 19,578 Shares of Alcoa Co. (NYSE:AA)

Beaconlight Capital LLC grew its holdings in Alcoa Co. (NYSE:AA) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 186,932 shares of the industrial products company’s stock after purchasing an additional 19,578 shares during the period. Alcoa makes up about 2.6% of Beaconlight Capital LLC’s holdings, making the stock its 12th biggest position. Beaconlight Capital LLC owned about 0.07% of Alcoa worth $7,062,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AA. Retirement Systems of Alabama grew its stake in Alcoa by 41.6% during the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock valued at $12,107,000 after acquiring an additional 92,201 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of Alcoa during the 4th quarter valued at $211,000. Union Bancaire Privee UBP SA bought a new position in shares of Alcoa in the fourth quarter worth $454,000. Ausbil Investment Management Ltd purchased a new stake in shares of Alcoa in the fourth quarter worth $429,000. Finally, Fiduciary Alliance LLC bought a new stake in Alcoa during the fourth quarter valued at $1,147,000. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. BMO Capital Markets raised their price target on Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. StockNews.com raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. Jefferies Financial Group cut their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. B. Riley lowered their price objective on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, JPMorgan Chase & Co. cut their target price on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Alcoa has an average rating of “Moderate Buy” and an average target price of $44.17.

Alcoa Stock Performance

Alcoa stock opened at $25.59 on Friday. The firm has a fifty day simple moving average of $28.87 and a two-hundred day simple moving average of $35.91. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77. The company has a market capitalization of $6.62 billion, a PE ratio of -159.94, a P/E/G ratio of 0.19 and a beta of 2.28. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.42. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Research analysts expect that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. Alcoa’s dividend payout ratio is currently 12.05%.

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.