L & S Advisors Inc Makes New $7.88 Million Investment in Alcoa $AA

L & S Advisors Inc bought a new position in shares of Alcoa (NYSE:AA) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 148,356 shares of the industrial products company’s stock, valued at approximately $7,884,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Qsemble Capital Management LP bought a new position in Alcoa during the fourth quarter worth about $4,360,000. DNB Asset Management AS bought a new position in Alcoa during the fourth quarter worth about $227,000. Convergence Investment Partners LLC boosted its position in Alcoa by 28.0% during the fourth quarter. Convergence Investment Partners LLC now owns 25,969 shares of the industrial products company’s stock worth $1,380,000 after purchasing an additional 5,679 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after purchasing an additional 229 shares during the period. Finally, Pinnacle Associates Ltd. bought a new position in Alcoa during the fourth quarter worth about $257,000.

Analysts Set New Price Targets

AA has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. UBS Group increased their target price on shares of Alcoa from $48.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Argus set a $73.00 target price on shares of Alcoa in a research report on Monday, April 27th. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $64.00 to $80.00 in a report on Thursday, April 9th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $67.60.

Alcoa Trading Down 5.4%

Shares of Alcoa stock opened at $62.45 on Friday. Alcoa has a 12-month low of $25.83 and a 12-month high of $75.70. The company has a market cap of $16.48 billion, a price-to-earnings ratio of 15.81 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $65.35 and its 200-day moving average price is $56.47.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the company posted $2.15 earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, equities analysts expect that Alcoa will post 7.95 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s payout ratio is presently 10.13%.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.