Corton Capital Inc. Has $248,000 Stock Holdings in Alcoa Co. (NYSE:AA)

Corton Capital Inc. lowered its holdings in shares of Alcoa Co. (NYSE:AA) by 17.8% in the 4th quarter, HoldingsChannel reports. The firm owned 6,576 shares of the industrial products company’s stock after selling 1,427 shares during the period. Corton Capital Inc.’s holdings in Alcoa were worth $248,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in Alcoa by 399.0% in the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,157 shares in the last quarter. Nordea Investment Management AB increased its position in Alcoa by 2.3% in the 4th quarter. Nordea Investment Management AB now owns 253,673 shares of the industrial products company’s stock valued at $9,662,000 after buying an additional 5,773 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Alcoa by 3.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock worth $365,000 after buying an additional 339 shares during the period. Fiduciary Alliance LLC bought a new position in Alcoa in the fourth quarter worth approximately $1,147,000. Finally, Kieckhefer Group LLC bought a new position in Alcoa in the fourth quarter worth approximately $113,000. 82.39% of the stock is currently owned by institutional investors.

Alcoa Stock Performance

Shares of AA opened at $24.40 on Thursday. The stock has a 50 day moving average of $28.35 and a 200 day moving average of $35.61. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 12 month low of $21.53 and a 12 month high of $47.77. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of -152.48, a PEG ratio of 0.19 and a beta of 2.29.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.64%. Alcoa’s payout ratio is currently 12.05%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AA shares. B. Riley lowered their target price on 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 JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Morgan Stanley decreased their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Bank of America reaffirmed an “underperform” rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Finally, HC Wainwright boosted their price objective on Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Alcoa presently has an average rating of “Moderate Buy” and an average target price of $44.17.

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.