Point72 Hong Kong Ltd Takes $36,000 Position in Alcoa Co. (NYSE:AA)

Point72 Hong Kong Ltd acquired a new stake in shares of Alcoa Co. (NYSE:AA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 953 shares of the industrial products company’s stock, valued at approximately $36,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Alcoa by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company’s stock worth $981,491,000 after acquiring an additional 165,420 shares in the last quarter. Norges Bank purchased a new position in Alcoa in the 4th quarter worth $259,273,000. Geode Capital Management LLC lifted its stake in Alcoa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company’s stock worth $159,966,000 after purchasing an additional 39,022 shares during the last quarter. ARGA Investment Management LP boosted its position in Alcoa by 29.6% during the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after buying an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Alcoa by 8.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock valued at $96,372,000 after buying an additional 192,078 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on AA. B. Riley dropped their target price on Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M StockNews.com upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Friday, April 18th. JPMorgan Chase & Co. lowered their price target on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Morgan Stanley cut their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays upped their price objective on shares of Alcoa to $31.00 and gave the company a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and an average price target of $43.08.

Alcoa Stock Up 2.9%

Shares of NYSE:AA opened at $29.51 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa Co. has a 52-week low of $21.53 and a 52-week high of $47.77. The firm has a market capitalization of $7.64 billion, a P/E ratio of -184.42, a P/E/G ratio of 0.19 and a beta of 2.29. The stock has a 50 day moving average price of $27.80 and a 200-day moving average price of $34.91.

Alcoa (NYSE:AA) last posted its quarterly earnings data 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. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.58 billion. As a group, equities research analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.36%. Alcoa’s dividend payout ratio (DPR) is currently 12.05%.

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.