Fairvoy Private Wealth LLC Takes $839,000 Position in Alcoa $AA

Fairvoy Private Wealth LLC purchased a new stake in Alcoa (NYSE:AA) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 12,653 shares of the industrial products company’s stock, valued at approximately $839,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AA. Basepoint Wealth LLC purchased a new stake in Alcoa during the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. lifted its stake in shares of Alcoa by 52,500.0% in 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 last quarter. CoreCap Advisors LLC boosted 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 worth $30,000 after purchasing an additional 237 shares during the period. Caitong International Asset Management Co. Ltd boosted 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 worth $31,000 after purchasing an additional 581 shares during the period. Finally, Quarry LP increased its position in shares of Alcoa by 96.0% during the 4th quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 340 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Argus set a $73.00 price target on Alcoa in a research report on Monday, April 27th. Zacks Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the company from $75.00 to $80.00 in a research note on Friday, May 22nd. Citigroup raised their target price on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Finally, Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.80.

Alcoa Trading Up 1.2%

AA opened at $52.91 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The stock’s 50 day moving average price is $66.95 and its 200-day moving average price is $62.52. Alcoa has a one year low of $27.72 and a one year high of $84.38. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 13.40 and a beta of 1.56.

Alcoa (NYSE:AA) last issued 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). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business posted $2.15 earnings per share. Alcoa’s revenue was down 5.2% on a year-over-year basis. On average, equities analysts forecast that Alcoa will post 8.48 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a $0.10 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is presently 10.13%.

About Alcoa

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.