MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 66,392 Shares of Alcoa Co. (NYSE:AA)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alcoa Co. (NYSE:AA) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,231,797 shares of the industrial products company’s stock after acquiring an additional 66,392 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.48% of Alcoa worth $46,535,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. increased its position in Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 296 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Alcoa in the 4th quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 393 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after buying an additional 598 shares during the period. Finally, IMG Wealth Management Inc. bought a new stake in Alcoa during the 4th quarter valued at $73,000. 82.39% of the stock is owned by institutional investors.

Alcoa Price Performance

Shares of NYSE:AA opened at $28.65 on Wednesday. The business’s 50 day simple moving average is $27.96 and its 200-day simple moving average is $35.16. The firm has a market capitalization of $7.42 billion, a price-to-earnings ratio of -179.06, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. Alcoa Co. has a 12 month low of $21.53 and a 12 month high of $47.77.

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

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.40%. Alcoa’s dividend payout ratio (DPR) is presently 12.05%.

Analysts Set New Price Targets

A number of brokerages have commented on AA. B. Riley lowered their price target on Alcoa from $44.00 to $43.00 and set a “buy” rating for the company 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 target on Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. UBS Group lowered their price objective on Alcoa from $47.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets upped their price target on Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Finally, Bank of America reiterated an “underperform” rating and issued a $26.00 price objective (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and a consensus price target of $44.17.

Alcoa Company 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.