Bourgeon Capital Management LLC Takes $5.72 Million Position in Alcoa Co. (NYSE:AA)

Bourgeon Capital Management LLC bought a new position in shares of Alcoa Co. (NYSE:AA) during the first quarter, HoldingsChannel reports. The institutional investor bought 187,534 shares of the industrial products company’s stock, valued at approximately $5,720,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AA. Blue Trust Inc. raised its holdings in shares of Alcoa by 37.3% in the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock worth $171,000 after purchasing an additional 1,201 shares in the last quarter. KBC Group NV lifted its holdings in shares of Alcoa by 70.3% during the fourth quarter. KBC Group NV now owns 11,135 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 4,598 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Alcoa by 2.2% in the 4th quarter. Pacer Advisors Inc. now owns 38,516 shares of the industrial products company’s stock valued at $1,455,000 after purchasing an additional 817 shares during the period. Rheos Capital Works Inc. acquired a new stake in Alcoa during the 4th quarter worth about $2,002,000. Finally, Trust Point Inc. lifted its stake in Alcoa by 24.8% during the fourth quarter. Trust Point Inc. now owns 8,591 shares of the industrial products company’s stock valued at $325,000 after buying an additional 1,707 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

Alcoa Price Performance

NYSE AA opened at $26.56 on Tuesday. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The stock’s 50-day moving average is $26.51 and its two-hundred day moving average is $33.74. The firm has a market cap of $6.88 billion, a P/E ratio of -166.01, 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 (NYSE:AA) last issued its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. On average, analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.51%. Alcoa’s dividend payout ratio (DPR) is presently 12.05%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AA shares. Bank of America reissued an “underperform” rating and issued a $26.00 target price (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. HC Wainwright raised their price target on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Barclays boosted their price objective on shares of Alcoa to $31.00 and gave the company a “hold” rating in a research report on Friday, May 16th. Finally, B. Riley cut their target price on shares of 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 One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average 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.