Alcoa $AA Stake Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its stake in Alcoa (NYSE:AA) by 76.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,404 shares of the industrial products company’s stock after acquiring an additional 9,283 shares during the period. Pallas Capital Advisors LLC’s holdings in Alcoa were worth $1,137,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its holdings in Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Alcoa by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after purchasing an additional 4,624 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Alcoa by 2.5% during the second quarter. Legal & General Group Plc now owns 409,253 shares of the industrial products company’s stock worth $12,077,000 after purchasing an additional 10,016 shares during the last quarter. Franklin Resources Inc. grew its stake in Alcoa by 33.7% in the second quarter. Franklin Resources Inc. now owns 67,516 shares of the industrial products company’s stock worth $1,992,000 after purchasing an additional 17,003 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Alcoa by 15.0% in the second quarter. Prudential Financial Inc. now owns 57,756 shares of the industrial products company’s stock worth $1,704,000 after purchasing an additional 7,530 shares in the last quarter.

Alcoa Stock Performance

Shares of NYSE AA opened at $58.36 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $60.87 and its two-hundred day moving average price is $48.99. Alcoa has a 52-week low of $21.53 and a 52-week high of $68.40. The stock has a market capitalization of $15.40 billion, a P/E ratio of 13.20 and a beta of 1.85.

Alcoa (NYSE:AA) last issued its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.Alcoa’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 earnings per share. As a group, sell-side analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, March 10th. Alcoa’s dividend payout ratio is presently 9.05%.

Analyst Ratings Changes

Several analysts recently weighed in on AA shares. B. Riley Financial reissued a “buy” rating on shares of Alcoa in a report on Friday, January 23rd. JPMorgan Chase & Co. upgraded Alcoa from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $50.00 to $68.00 in a research report on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a report on Monday, December 29th. Wells Fargo & Company set a $68.00 price target on Alcoa in a research report on Thursday, March 12th. Finally, Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $50.45.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.