Hartree Partners LP Acquires New Position in Alcoa Co. (NYSE:AA)

Hartree Partners LP purchased a new position in Alcoa Co. (NYSE:AA) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 10,000 shares of the industrial products company’s stock, valued at approximately $378,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AA. Ballentine Partners LLC boosted its position in shares of Alcoa by 3.2% in the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 279 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after purchasing an additional 300 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Alcoa by 5.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock valued at $246,000 after buying an additional 328 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after buying an additional 339 shares during the period. Finally, CreativeOne Wealth LLC grew its position in Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company’s stock worth $352,000 after buying an additional 360 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Alcoa Stock Performance

Shares of AA opened at $30.58 on Friday. The stock has a market capitalization of $7.92 billion, a price-to-earnings ratio of -191.15, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. Alcoa Co. has a 52-week low of $27.12 and a 52-week high of $47.77. The stock’s 50-day simple moving average is $34.75 and its 200 day simple moving average is $38.13. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

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

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. Alcoa’s payout ratio is currently -250.00%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Alcoa from $53.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley decreased their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. HC Wainwright raised their price objective on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Jefferies Financial Group lowered their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Bank of America lifted their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.92.

Alcoa Profile

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.