Alcoa Co. (NYSE:AA) Stake Boosted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Alcoa Co. (NYSE:AA) by 4.6% during the 4th quarter, HoldingsChannel reports. The firm owned 49,367 shares of the industrial products company’s stock after acquiring an additional 2,190 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alcoa were worth $1,678,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Alcoa in the third quarter worth $1,408,000. Handelsbanken Fonder AB increased its holdings in shares of Alcoa by 92.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 166,121 shares of the industrial products company’s stock worth $4,827,000 after acquiring an additional 79,802 shares during the period. Raymond James & Associates lifted its position in Alcoa by 2.5% in the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock valued at $607,000 after purchasing an additional 501 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Alcoa by 12.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,317 shares of the industrial products company’s stock valued at $1,113,000 after purchasing an additional 4,272 shares during the period. Finally, Total Clarity Wealth Management Inc. bought a new position in Alcoa in the 3rd quarter worth about $283,000.

Analyst Ratings Changes

AA has been the topic of a number of recent analyst reports. Bank of America lifted their price target on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 18th. BMO Capital Markets raised their price target on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Morgan Stanley raised shares of Alcoa from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $28.50 to $36.50 in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Finally, StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $33.54.

Alcoa Stock Performance

Shares of NYSE AA opened at $36.07 on Thursday. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $38.20. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of -9.59, a PEG ratio of 4.38 and a beta of 2.47. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $31.51 and its 200 day simple moving average is $29.22.

Alcoa (NYSE:AA) last issued its quarterly earnings results 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). The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.23) EPS. As a group, sell-side analysts forecast that Alcoa Co. will post 0.17 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

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

Insider Transactions at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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.