Wealthfront Advisers LLC Makes New Investment in Alcoa Co. (NYSE:AA)

Wealthfront Advisers LLC acquired a new stake in Alcoa Co. (NYSE:AA) during the 4th quarter, Holdings Channel.com reports. The fund acquired 30,541 shares of the industrial products company’s stock, valued at approximately $1,154,000.

Several other large investors have also made changes to their positions in the business. Mountaineer Partners Management LLC boosted its holdings in shares of Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after acquiring an additional 10,534,036 shares during the last quarter. State Street Corp boosted its holdings in shares of Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after acquiring an additional 1,239,479 shares during the last quarter. ARGA Investment Management LP lifted its stake in shares of Alcoa by 29.6% in the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after purchasing an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Alcoa by 8.1% in the 4th 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 purchasing an additional 192,078 shares during the period. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Price Performance

Shares of NYSE AA opened at $33.56 on Friday. The firm has a 50-day simple moving average of $35.44 and a 200-day simple moving average of $37.91. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of -209.73, a price-to-earnings-growth 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 Co. has a 52 week low of $27.12 and a 52 week high of $47.77.

Alcoa (NYSE:AA) last issued its 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 net margin of 0.50% and a return on equity of 5.54%. On average, equities analysts predict that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, March 4th. Alcoa’s dividend payout ratio is currently -250.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on AA shares. Bank of America boosted their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Jefferies Financial Group decreased their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. HC Wainwright boosted their target price on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their price objective 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $50.17.

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.