Wealth High Governance Capital Ltda Purchases New Holdings in Alcoa $AA

Wealth High Governance Capital Ltda acquired a new position in shares of Alcoa (NYSE:AA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 120,000 shares of the industrial products company’s stock, valued at approximately $3,947,000.

A number of other hedge funds also recently modified their holdings of AA. Pacer Advisors Inc. lifted its stake in Alcoa by 455.9% in the 3rd quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock worth $2,071,000 after acquiring an additional 51,652 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Alcoa by 121.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock valued at $46,312,000 after purchasing an additional 861,383 shares during the period. Regal Partners Ltd lifted its position in shares of Alcoa by 7.0% in the third quarter. Regal Partners Ltd now owns 451,940 shares of the industrial products company’s stock worth $14,864,000 after purchasing an additional 29,612 shares in the last quarter. Drummond Knight Asset Management Pty Ltd acquired a new stake in shares of Alcoa during the second quarter worth approximately $44,893,000. Finally, Nordea Investment Management AB increased its stake in Alcoa by 190.8% in the 3rd quarter. Nordea Investment Management AB now owns 142,050 shares of the industrial products company’s stock valued at $4,592,000 after buying an additional 93,204 shares during the period.

Wall Street Analyst Weigh In

AA has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Morgan Stanley restated an “overweight” rating and issued a $52.00 target price on shares of Alcoa in a research note on Monday, December 15th. UBS Group lifted their price target on Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a report on Thursday. JPMorgan Chase & Co. upgraded Alcoa from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $50.00 to $68.00 in a report on Friday. Finally, Citigroup lifted their target price on shares of Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $48.45.

Alcoa Stock Down 2.5%

Shares of NYSE:AA traded down $1.67 during midday trading on Friday, hitting $64.26. The stock had a trading volume of 1,615,137 shares, compared to its average volume of 7,961,505. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $61.39 and its 200-day simple moving average is $46.56. Alcoa has a 12 month low of $21.53 and a 12 month high of $68.40. The company has a market cap of $16.96 billion, a P/E ratio of 14.51 and a beta of 1.85.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.31. Alcoa had a net margin of 9.12% and a return on equity of 16.19%. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the firm posted $1.04 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, March 10th. Alcoa’s payout ratio is 9.05%.

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.