Rockefeller Capital Management L.P. Purchases 37,328 Shares of Alcoa $AA

Rockefeller Capital Management L.P. grew its position in Alcoa (NYSE:AA) by 4,124.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,233 shares of the industrial products company’s stock after buying an additional 37,328 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Alcoa were worth $2,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in shares of Alcoa in the fourth quarter valued at about $25,000. Advisory Services Network LLC bought a new position in Alcoa during the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. increased its position in Alcoa by 52,500.0% during the 4th 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 during the period. CoreCap Advisors LLC raised its holdings in shares of Alcoa by 74.1% in the 4th 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. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Alcoa by 5,281.8% in the 4th 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.

Alcoa Price Performance

Shares of AA stock opened at $53.45 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of 13.53 and a beta of 1.56. The stock’s 50-day simple moving average is $66.28 and its 200-day simple moving average is $62.66.

Alcoa (NYSE:AA) last posted 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 company had revenue of $3.19 billion during 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 company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.15 EPS. As a group, equities analysts forecast that Alcoa will post 7.54 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. Alcoa’s payout ratio is currently 10.13%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AA shares. Argus set a $73.00 price objective on shares of Alcoa in a research note on Monday, April 27th. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Wells Fargo & Company dropped their target price on Alcoa from $82.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alcoa currently has an average rating of “Hold” and an average price target of $68.80.

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.