IMG Wealth Management Inc. Acquires New Stake in Alcoa Co. (NYSE:AA)

IMG Wealth Management Inc. acquired a new stake in shares of Alcoa Co. (NYSE:AA) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,928 shares of the industrial products company’s stock, valued at approximately $73,000.

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new position in shares of Alcoa during the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC grew its position in Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after buying an additional 393 shares during the last quarter. Quarry LP acquired a new position in Alcoa in the third quarter worth approximately $43,000. Continuum Advisory LLC grew its position in Alcoa by 1,945.5% in the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,070 shares during the last quarter. Finally, UMB Bank n.a. grew its position in Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after buying an additional 598 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Up 3.9 %

AA stock opened at $33.56 on Monday. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 1 year low of $27.12 and a 1 year high of $47.77. The company has a fifty day simple moving average of $35.44 and a 200 day simple moving average of $37.96. The firm has a market cap of $8.69 billion, a PE ratio of -209.73, a PEG ratio of 0.19 and a beta of 2.55.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Sell-side analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, March 4th. Alcoa’s payout ratio is presently -250.00%.

Analyst Ratings Changes

AA has been the topic of several recent research reports. Morgan Stanley decreased their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. HC Wainwright lifted their price objective on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Bank of America lifted their price objective on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.17.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.