Eurizon Capital SGR S.p.A. Takes Position in Alcoa $AA

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Alcoa (NYSE:AA) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 121,277 shares of the industrial products company’s stock, valued at approximately $6,582,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AA. Basepoint Wealth LLC purchased a new stake in Alcoa during the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new position in shares of Alcoa during the third quarter worth $27,000. Raleigh Capital Management Inc. raised its holdings in shares of Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Alcoa by 91.9% during the third quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock worth $38,000 after purchasing an additional 556 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AA shares. Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $64.00 to $80.00 in a report on Thursday, April 9th. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Citigroup raised their target price on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Argus set a $73.00 target price on shares of Alcoa in a report on Monday, April 27th. Finally, B. Riley Financial raised their price target on shares of Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $68.60.

Alcoa Stock Up 0.4%

AA opened at $77.99 on Tuesday. Alcoa has a fifty-two week low of $25.83 and a fifty-two week high of $79.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The company has a fifty day moving average of $67.05 and a two-hundred day moving average of $59.18. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 19.74 and a beta of 1.56.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. 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 firm posted $2.15 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. On average, research analysts expect that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th will be given a $0.10 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. Alcoa’s dividend payout ratio (DPR) is 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.