14,965 Shares in Alcoa $AA Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC purchased a new stake in Alcoa (NYSE:AA) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,965 shares of the industrial products company’s stock, valued at approximately $993,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AA. Basepoint Wealth LLC purchased a new position in shares of Alcoa in the 4th quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Alcoa during the third quarter worth approximately $27,000. Raleigh Capital Management Inc. raised its stake in shares of Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the last quarter. CoreCap Advisors LLC lifted its holdings 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 worth $30,000 after purchasing an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada set a $70.00 price objective on shares of Alcoa in a research report on Wednesday. BMO Capital Markets upped their price objective on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. B. Riley Financial restated a “buy” rating on shares of Alcoa in a research note on Wednesday. UBS Group lowered their target price on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $67.82.

Trending Headlines about Alcoa

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: The acquisition could strengthen Alcoa’s long-term business by making it one of the largest integrated aluminum producers globally and improving control over raw materials and refining capacity. Alcoa (AA) Agrees To Buy South32 Assets To Build A Leading Aluminum Business
• Positive Sentiment: Management says the deal should generate about $900 million in net present value synergies and be accretive to earnings and free cash flow after closing, which supports the bull case if integration goes smoothly. Alcoa to Acquire South32 Aluminum Assets Worldwide
• Neutral Sentiment: Morgan Stanley reaffirmed its Overweight rating and $79 price target, signaling continued analyst confidence despite the market’s reaction. Benzinga report on Morgan Stanley rating
• Negative Sentiment: Shares fell after the announcement because investors are worried about the roughly $4.1 billion upfront price tag, the $3.1 billion cash component, and the issuance of about 17 million new shares, which raises dilution and financing concerns. Alcoa Corporation (AA) to Acquire South32 Aluminum Assets in $4.1B Deal
• Negative Sentiment: The market is also weighing integration risk and leverage from the deal, which helped drive the recent selloff even though the company argues the transaction is strategically attractive. Alcoa Slides After South32 Deal Sparks Financing and Dilution Concerns

Alcoa Stock Up 2.5%

Alcoa stock opened at $48.66 on Friday. The stock’s 50 day moving average price is $65.26 and its 200 day moving average price is $62.73. Alcoa has a 1-year low of $28.11 and a 1-year high of $84.38. The company has a market cap of $12.84 billion, a PE ratio of 12.32 and a beta of 1.63. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 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.