Chesapeake Capital Corp IL Acquires 2,468 Shares of Alcoa Co. (NYSE:AA)

Chesapeake Capital Corp IL boosted its position in Alcoa Co. (NYSE:AA) by 31.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,334 shares of the industrial products company’s stock after purchasing an additional 2,468 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Alcoa were worth $390,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mountaineer Partners Management LLC boosted its stake in Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after purchasing an additional 10,534,036 shares during the period. State Street Corp boosted its stake in Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after purchasing an additional 1,805,915 shares during the period. Geode Capital Management LLC boosted its stake in Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after purchasing an additional 1,239,479 shares during the period. ARGA Investment Management LP lifted its position in shares of Alcoa by 29.6% during the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after acquiring an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Alcoa by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock valued at $96,372,000 after acquiring an additional 192,078 shares during the period. 82.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AA has been the subject of a number of recent analyst reports. Bank of America upped their target price on Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Jefferies Financial Group cut their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley cut 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. JPMorgan Chase & Co. upped their target price on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, B. Riley upgraded Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alcoa presently has an average rating of “Moderate Buy” and a consensus price target of $50.17.

Alcoa Price Performance

Shares of AA opened at $33.96 on Wednesday. Alcoa Co. has a 12-month low of $27.12 and a 12-month high of $47.77. The business has a 50-day simple moving average of $35.36 and a two-hundred day simple moving average of $37.99. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The stock has a market cap of $8.79 billion, a PE ratio of -212.22, a PEG ratio of 0.19 and a beta of 2.55.

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

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. Alcoa’s payout ratio is presently -250.00%.

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.