Alcoa $AA is Drummond Knight Asset Management Pty Ltd’s 3rd Largest Position

Drummond Knight Asset Management Pty Ltd raised its holdings in shares of Alcoa (NYSE:AA) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,060,523 shares of the industrial products company’s stock after buying an additional 130,915 shares during the period. Alcoa comprises approximately 15.8% of Drummond Knight Asset Management Pty Ltd’s portfolio, making the stock its 3rd largest position. Drummond Knight Asset Management Pty Ltd owned about 0.41% of Alcoa worth $56,356,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in AA. Advisory Services Network LLC purchased a new stake in Alcoa during the third quarter valued at about $27,000. Root Financial Partners LLC bought a new position in shares of Alcoa during the third quarter valued at about $29,000. CoreCap Advisors LLC raised its stake in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 237 shares during the last quarter. Orion Capital Management LLC bought a new position in shares of Alcoa during the third quarter valued at about $33,000. Finally, Westfuller Advisors LLC bought a new position in shares of Alcoa during the third quarter valued at about $35,000. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Alcoa Price Performance

Shares of NYSE AA opened at $70.91 on Tuesday. Alcoa has a 1 year low of $21.53 and a 1 year high of $72.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87. The company’s 50-day moving average is $61.77 and its 200 day moving average is $50.52. The stock has a market capitalization of $18.71 billion, a P/E ratio of 16.04 and a beta of 1.70.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s payout ratio is currently 9.05%.

Analysts Set New Price Targets

Several equities analysts have recently commented on AA shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. UBS Group upped their price objective on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $52.00 price objective on shares of Alcoa in a research note on Monday, December 15th. Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a research note on Thursday, March 12th. Finally, Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.45.

Alcoa 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.