Manatuck Hill Partners LLC Takes Position in Alcoa $AA

Manatuck Hill Partners LLC purchased a new stake in Alcoa (NYSE:AA) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,000 shares of the industrial products company’s stock, valued at approximately $1,063,000.

Other large investors have also made changes to their positions in the company. Basepoint Wealth LLC purchased a new stake in shares of Alcoa in the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. grew its position in shares of Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares in the last quarter. CoreCap Advisors LLC grew its position in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares in the last quarter. Finally, Quarry LP grew its position in Alcoa by 96.0% in the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 340 shares during the period.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on AA shares. Wells Fargo & Company set a $68.00 price objective on Alcoa in a research report on Thursday, March 12th. UBS Group upgraded Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $80.00 in a research report on Friday, May 22nd. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. BMO Capital Markets increased their price objective on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Finally, Weiss Ratings lowered Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.50.

Alcoa Stock Down 1.6%

Shares of NYSE:AA opened at $61.85 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. The firm has a market capitalization of $16.32 billion, a PE ratio of 15.66 and a beta of 1.56. The firm’s 50-day moving average is $68.93 and its two-hundred day moving average is $61.96. Alcoa has a 1 year low of $27.72 and a 1 year high of $84.38.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the company earned $2.15 earnings per share. Analysts predict that Alcoa will post 7.98 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is 10.13%.

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.