Edgestream Partners L.P. Invests $1.05 Million in Alcoa Co. (NYSE:AA)

Edgestream Partners L.P. bought a new position in shares of Alcoa Co. (NYSE:AA) in the fourth quarter, Holdings Channel reports. The firm bought 27,730 shares of the industrial products company’s stock, valued at approximately $1,048,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in Alcoa during the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 393 shares in the last quarter. Quarry LP purchased a new stake in Alcoa during the 3rd quarter worth $43,000. Continuum Advisory LLC increased its holdings in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,070 shares in the last quarter. Finally, UMB Bank n.a. raised its position in Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 598 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AA. B. Riley upgraded Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. BMO Capital Markets increased their price objective on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Bank of America boosted their target price on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, HC Wainwright lifted their price target on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $50.17.

Alcoa Trading Up 3.1 %

Shares of NYSE:AA opened at $31.93 on Wednesday. The company’s 50-day moving average price is $35.68 and its 200 day moving average price is $37.97. Alcoa Co. has a fifty-two week low of $27.12 and a fifty-two week high of $47.77. The company has a market cap of $8.27 billion, a PE ratio of -199.54, a P/E/G ratio of 0.19 and a beta of 2.55. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Sell-side analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.25%. Alcoa’s dividend payout ratio (DPR) is -250.00%.

Alcoa 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.