Sigma Planning Corp Takes $1.20 Million Position in Alcoa $AA

Sigma Planning Corp acquired a new position in shares of Alcoa (NYSE:AA) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 22,913 shares of the industrial products company’s stock, valued at approximately $1,195,000.

A number of other hedge funds have also bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in Alcoa in the fourth quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Alcoa in the 2nd quarter worth about $25,000. Advisory Services Network LLC acquired a new position in shares of Alcoa in the 3rd quarter valued at about $27,000. Caitong International Asset Management Co. Ltd lifted its stake 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 during the period. Finally, Western Wealth Management LLC bought a new stake in shares of Alcoa during the 1st quarter valued at about $35,000.

Alcoa Stock Performance

NYSE AA opened at $50.05 on Tuesday. The company has a fifty day simple moving average of $48.86 and a 200 day simple moving average of $59.87. Alcoa has a 12-month low of $30.21 and a 12-month high of $84.38. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The company has a market cap of $13.21 billion, a P/E ratio of 10.30, a PEG ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the company posted $0.39 EPS. Sell-side analysts predict that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th 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, August 11th. Alcoa’s dividend payout ratio is currently 8.23%.

Wall Street Analyst Weigh In

Several research firms recently commented on AA. Wells Fargo & Company decreased their target price on Alcoa from $72.00 to $71.00 and set an “overweight” rating for the company in a research note on Friday, July 17th. BMO Capital Markets reduced their price objective on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Friday, July 17th. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research downgraded shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.09.

Insider Buying and Selling at Alcoa

In related news, EVP Tammi A. Jones sold 15,628 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total value of $790,776.80. Following the transaction, the executive vice president owned 39,819 shares of the company’s stock, valued at approximately $2,014,841.40. This trade represents a 28.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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.