UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Position in Alcoa Co. (NYSE:AA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Alcoa Co. (NYSE:AA) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 641,985 shares of the industrial products company’s stock after purchasing an additional 13,869 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Alcoa were worth $24,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bessemer Group Inc. increased its position in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 296 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Alcoa by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 300 shares during the period. Wilmington Savings Fund Society FSB grew its position in shares of Alcoa by 5.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after buying an additional 328 shares during the period. Captrust Financial Advisors grew its position in shares of Alcoa by 5.8% in the 4th quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company’s stock worth $248,000 after buying an additional 361 shares during the period. Finally, Smartleaf Asset Management LLC grew its position 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 worth $39,000 after buying an additional 393 shares during the period. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Stock Performance

Shares of Alcoa stock opened at $28.27 on Wednesday. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of -176.69, a PEG ratio of 0.19 and a beta of 2.29. The firm’s 50-day moving average is $27.02 and its 200 day moving average is $34.21. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. 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 (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.42. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Sell-side analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.41%. The ex-dividend date is Tuesday, May 20th. Alcoa’s dividend payout ratio is currently 12.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AA. Morgan Stanley reduced their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reduced their target price on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. Barclays upped their target price on shares of Alcoa to $31.00 and gave the stock a “hold” rating in a research report on Friday, May 16th. UBS Group reaffirmed a “neutral” rating and issued a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $42.50.

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.