120,000 Shares in Alcoa $AA Bought by Wealth High Governance Capital Ltda

Wealth High Governance Capital Ltda bought a new position in shares of Alcoa (NYSE:AA) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 120,000 shares of the industrial products company’s stock, valued at approximately $3,947,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Root Financial Partners LLC acquired a new stake in Alcoa in the third quarter valued at approximately $29,000. Horrell Capital Management Inc. acquired a new position in Alcoa in the second quarter worth about $30,000. Orion Capital Management LLC bought a new position in Alcoa during the third quarter worth $33,000. Westfuller Advisors LLC acquired a new position in shares of Alcoa in the 3rd quarter valued at about $35,000. Finally, Huntington National Bank lifted its holdings in Alcoa by 167.9% in the third quarter. Huntington National Bank now owns 1,259 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 789 shares during the last quarter.

Alcoa Price Performance

Alcoa stock traded down $1.67 during midday trading on Friday, hitting $64.26. The company’s stock had a trading volume of 1,615,137 shares, compared to its average volume of 7,961,505. Alcoa has a 12 month low of $21.53 and a 12 month high of $68.40. 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 stock’s 50-day moving average price is $61.39 and its 200-day moving average price is $46.56. The company has a market capitalization of $16.96 billion, a PE ratio of 14.51 and a beta of 1.85.

Alcoa (NYSE:AA) last released its earnings results on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.95 by $0.31. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 earnings per share. Analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Alcoa’s dividend payout ratio is currently 9.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. B. Riley Financial reiterated a “buy” rating on shares of Alcoa in a research report on Friday, January 23rd. UBS Group boosted their price target on shares of Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup lifted their price objective on shares of Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.45.

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.