Tennessee Valley Asset Management Partners Makes New $31,000 Investment in Alcoa Co. (NYSE:AA)

Tennessee Valley Asset Management Partners acquired a new position in Alcoa Co. (NYSE:AA) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 905 shares of the industrial products company’s stock, valued at approximately $31,000.

Several other large investors have also recently modified their holdings of the stock. Quent Capital LLC raised its holdings in Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after buying an additional 387 shares during the period. Raymond James & Associates raised its holdings in Alcoa by 2.5% during the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock valued at $607,000 after buying an additional 501 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Alcoa by 3.1% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 26,826 shares of the industrial products company’s stock valued at $780,000 after buying an additional 813 shares during the period. Signaturefd LLC raised its holdings in Alcoa by 53.0% during the 3rd quarter. Signaturefd LLC now owns 2,661 shares of the industrial products company’s stock valued at $77,000 after buying an additional 922 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in Alcoa by 9.4% during the 3rd quarter. Moors & Cabot Inc. now owns 11,298 shares of the industrial products company’s stock valued at $328,000 after buying an additional 975 shares during the period. Institutional investors own 82.39% of the company’s stock.

Alcoa Price Performance

Shares of AA stock opened at $36.05 on Wednesday. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $38.54. The stock’s 50-day moving average is $31.51 and its 200 day moving average is $29.22. The company has a market cap of $6.47 billion, a P/E ratio of -9.59, a PEG ratio of 4.28 and a beta of 2.47. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the business earned ($0.23) EPS. Alcoa’s revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts predict that Alcoa Co. will post 0.17 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s payout ratio is currently -10.64%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AA. Jefferies Financial Group increased their price target on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Bank of America increased their target price on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Morgan Stanley upgraded Alcoa from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $28.50 to $36.50 in a research note on Monday. B. Riley increased their target price on Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. increased their target price on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.54.

Insider Activity at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.08% of the stock is owned by corporate insiders.

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.