Federated Hermes Inc. Has $13.75 Million Stock Holdings in Alcoa $AA

Federated Hermes Inc. boosted its position in Alcoa (NYSE:AA) by 2.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 465,971 shares of the industrial products company’s stock after purchasing an additional 12,401 shares during the period. Federated Hermes Inc. owned about 0.18% of Alcoa worth $13,751,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers boosted its stake in shares of Alcoa by 19.0% during the 1st quarter. Cetera Investment Advisers now owns 16,368 shares of the industrial products company’s stock worth $499,000 after acquiring an additional 2,615 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Alcoa by 0.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,899,066 shares of the industrial products company’s stock valued at $57,922,000 after acquiring an additional 6,832 shares during the period. Deutsche Bank AG lifted its holdings in Alcoa by 481.2% during the 1st quarter. Deutsche Bank AG now owns 907,117 shares of the industrial products company’s stock valued at $27,667,000 after purchasing an additional 751,053 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Alcoa by 16.6% in the first quarter. National Bank of Canada FI now owns 33,685 shares of the industrial products company’s stock valued at $1,027,000 after purchasing an additional 4,807 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Alcoa in the first quarter valued at $23,339,000.

Wall Street Analyst Weigh In

AA has been the subject of a number of research reports. Morgan Stanley set a $43.50 target price on shares of Alcoa in a report on Friday, October 24th. HSBC boosted their price objective on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Wells Fargo & Company assumed coverage on Alcoa in a research note on Tuesday, October 7th. They set an “overweight” rating and a $40.00 target price on the stock. B. Riley upped their price objective on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Alcoa from $35.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.12.

Alcoa Stock Performance

AA opened at $44.67 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. Alcoa has a 52-week low of $21.53 and a 52-week high of $44.96. The firm has a market cap of $11.57 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 0.23 and a beta of 1.99. The business’s fifty day moving average is $38.37 and its 200-day moving average is $33.16.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. Alcoa’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. Sell-side analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Alcoa’s dividend payout ratio (DPR) is currently 9.24%.

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.