Trust Point Inc. Buys 1,707 Shares of Alcoa Co. (NYSE:AA)

Trust Point Inc. grew its stake in Alcoa Co. (NYSE:AA) by 24.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,591 shares of the industrial products company’s stock after acquiring an additional 1,707 shares during the period. Trust Point Inc.’s holdings in Alcoa were worth $325,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AA. Creative Planning lifted its stake in Alcoa by 25.4% in the 2nd quarter. Creative Planning now owns 23,853 shares of the industrial products company’s stock valued at $949,000 after purchasing an additional 4,828 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Alcoa in the 2nd quarter valued at about $304,000. CWM LLC lifted its stake in Alcoa by 133.7% in the 3rd quarter. CWM LLC now owns 8,533 shares of the industrial products company’s stock valued at $329,000 after purchasing an additional 4,882 shares during the last quarter. UMB Bank n.a. lifted its stake in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares during the last quarter. Finally, Contravisory Investment Management Inc. acquired a new stake in Alcoa in the 3rd quarter valued at about $7,696,000. Institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AA. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Bank of America raised their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised 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. Finally, Jefferies Financial Group cut their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alcoa currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Stock Down 0.6 %

NYSE AA opened at $36.02 on Thursday. 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 $24.86 and a 1-year high of $47.77. The company has a 50 day moving average of $38.60 and a 200-day moving average of $37.50. The company has a market cap of $9.30 billion, a price-to-earnings ratio of -225.09, a PEG ratio of 0.20 and a beta of 2.43.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating 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%. On average, equities research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

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.