Walser Wealth Management Company A Ltd Liability Co Purchases New Shares in Alcoa $AA

Walser Wealth Management Company A Ltd Liability Co purchased a new stake in Alcoa (NYSE:AA) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 16,784 shares of the industrial products company’s stock, valued at approximately $1,113,000.

A number of other hedge funds have also bought and sold shares of AA. Nordea Investment Management AB raised its stake in Alcoa by 187.7% in the fourth quarter. Nordea Investment Management AB now owns 408,624 shares of the industrial products company’s stock valued at $21,902,000 after purchasing an additional 266,574 shares in the last quarter. Lighthouse Investment Partners LLC bought a new stake in Alcoa during the third quarter worth about $5,606,000. Moran Wealth Management LLC acquired a new stake in Alcoa during the fourth quarter worth about $2,631,000. Merit Financial Group LLC increased its holdings in Alcoa by 114.2% in the 4th quarter. Merit Financial Group LLC now owns 28,945 shares of the industrial products company’s stock valued at $1,538,000 after buying an additional 15,432 shares during the period. Finally, Alphadyne Asset Management LP bought a new position in Alcoa in the 3rd quarter valued at about $2,467,000.

Alcoa Trading Down 3.0%

NYSE:AA traded down $1.48 on Tuesday, reaching $48.40. 1,530,333 shares of the stock traded hands, compared to its average volume of 6,457,091. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 12.22 and a beta of 1.63. The company’s 50 day moving average is $64.56 and its 200-day moving average is $62.78. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Alcoa has a 1-year low of $28.11 and a 1-year high of $84.38.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.15 earnings per share. Equities research analysts anticipate that Alcoa will post 7.41 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio is 10.13%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AA. Argus set a $73.00 price target on shares of Alcoa in a research report on Monday, April 27th. B. Riley Financial lowered their price objective on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday. Royal Bank Of Canada set a $70.00 target price on Alcoa in a research note on Wednesday, July 1st. Wells Fargo & Company decreased their price target on Alcoa from $82.00 to $71.00 and set an “overweight” rating on the stock in a research note on Thursday, June 25th. Finally, Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $66.36.

About Alcoa

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.