Cetera Investment Advisers Acquires 2,615 Shares of Alcoa (NYSE:AA)

Cetera Investment Advisers increased its holdings in Alcoa (NYSE:AA) by 19.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,368 shares of the industrial products company’s stock after buying an additional 2,615 shares during the period. Cetera Investment Advisers’ holdings in Alcoa were worth $499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AA. Bessemer Group Inc. boosted its holdings in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 296 shares during the period. Continuum Advisory LLC boosted its holdings in Alcoa by 30.7% in the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 345 shares during the period. Captrust Financial Advisors boosted its holdings in Alcoa by 5.8% in the 4th quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 361 shares during the period. Versant Capital Management Inc boosted its holdings in Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 520 shares during the period. Finally, Circle Wealth Management LLC boosted its holdings in Alcoa by 7.5% in the 4th quarter. Circle Wealth Management LLC now owns 8,746 shares of the industrial products company’s stock valued at $330,000 after purchasing an additional 612 shares during the period.

Alcoa Stock Down 0.4%

Shares of Alcoa stock opened at $31.21 on Friday. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24. The company’s 50 day moving average is $29.90 and its 200 day moving average is $29.93. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the firm earned $0.16 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. Alcoa’s dividend payout ratio is 10.44%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AA. Citigroup raised shares of Alcoa to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, July 8th. B. Riley dropped their price objective on shares of Alcoa from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Bank of America lifted their target price on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Thursday, July 17th. Morgan Stanley decreased their price objective on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Finally, Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.23.

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.