New York Life Investment Management LLC Has $1.03 Million Holdings in Alcoa Co. (NYSE:AA)

New York Life Investment Management LLC grew its stake in Alcoa Co. (NYSE:AA) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,236 shares of the industrial products company’s stock after buying an additional 3,996 shares during the quarter. New York Life Investment Management LLC’s holdings in Alcoa were worth $1,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new position in Alcoa during the third quarter worth $43,000. Continuum Advisory LLC boosted its holdings in Alcoa by 1,945.5% during the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 1,070 shares during the last quarter. UMB Bank n.a. boosted its holdings in Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 598 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 1,157 shares during the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in Alcoa during the third quarter worth $89,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Price Performance

Shares of AA opened at $31.33 on Tuesday. The firm has a market capitalization of $8.11 billion, a PE ratio of -195.81, a PEG ratio of 0.19 and a beta of 2.43. The company’s 50-day moving average is $36.41 and its 200-day moving average is $38.02. Alcoa Co. has a fifty-two week low of $26.57 and a fifty-two week 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 issued its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Equities analysts forecast that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. BMO Capital Markets increased their target price on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Jefferies Financial Group dropped their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Morgan Stanley dropped their price target 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. Bank of America upped their price target on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.55.

About Alcoa

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.