Manatuck Hill Partners LLC Buys New Shares in Alcoa $AA

Manatuck Hill Partners LLC bought a new stake in Alcoa (NYSE:AA) in the fourth quarter, HoldingsChannel.com reports. The firm bought 20,000 shares of the industrial products company’s stock, valued at approximately $1,063,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Basepoint Wealth LLC purchased a new position in Alcoa in the fourth quarter valued at $25,000. Raleigh Capital Management Inc. boosted its holdings in Alcoa by 52,500.0% in the fourth 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 boosted its holdings in Alcoa by 74.1% in the fourth 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 during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Alcoa by 5,281.8% in the fourth 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, Quarry LP raised its stake in Alcoa by 96.0% in the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after buying an additional 340 shares in the last quarter.

Alcoa Stock Down 1.6%

AA opened at $61.85 on Thursday. The business’s 50-day simple moving average is $68.93 and its 200-day simple moving average is $61.96. 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 one year low of $27.72 and a one year high of $84.38. The stock has a market capitalization of $16.32 billion, a P/E ratio of 15.66 and a beta of 1.56.

Alcoa (NYSE:AA) last posted its earnings results 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). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the firm posted $2.15 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts anticipate that Alcoa will post 7.98 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued 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 dividend yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Wells Fargo & Company set a $68.00 price target on Alcoa in a research note on Thursday, March 12th. Weiss Ratings cut Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Argus set a $73.00 price target on Alcoa in a research note on Monday, April 27th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alcoa presently has an average rating of “Hold” and an average target price of $68.50.

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.