Northwestern Mutual Wealth Management Co. Acquires New Stake in Alcoa $AA

Northwestern Mutual Wealth Management Co. bought a new stake in Alcoa (NYSE:AA) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 21,590 shares of the industrial products company’s stock, valued at approximately $1,126,000.

Several other institutional investors and hedge funds have also bought and sold shares of AA. Quantbot Technologies LP bought a new stake in shares of Alcoa during the 2nd quarter valued at about $1,179,000. Evolve Private Wealth LLC bought a new position in shares of Alcoa in the 2nd quarter worth approximately $232,000. EP Wealth Advisors LLC bought a new position in shares of Alcoa in the 2nd quarter worth approximately $672,000. Ieq Capital LLC purchased a new position in shares of Alcoa in the second quarter worth approximately $13,550,000. Finally, Robinhood Asset Management LLC purchased a new position in shares of Alcoa in the second quarter worth approximately $8,499,000.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AA shares. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a report on Wednesday, July 1st. Argus dropped their price objective on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 price objective (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Finally, B. Riley Financial lowered their target price on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.09.

Alcoa Stock Up 3.8%

Shares of NYSE AA opened at $51.27 on Wednesday. The firm’s 50-day moving average price is $49.61 and its 200-day moving average price is $60.14. 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 stock has a market capitalization of $13.53 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.56 and a beta of 1.63. Alcoa has a 12-month low of $30.21 and a 12-month high of $84.38.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same period in the previous year, the business posted $0.39 EPS. On average, equities research analysts anticipate that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Alcoa’s dividend payout ratio is 8.23%.

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.