1,928 Shares in Alcoa Co. (NYSE:AA) Bought by IMG Wealth Management Inc.

IMG Wealth Management Inc. acquired a new stake in Alcoa Co. (NYSE:AA) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,928 shares of the industrial products company’s stock, valued at approximately $73,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in Alcoa in the 4th quarter valued at about $29,000. Smartleaf Asset Management LLC boosted its position in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after buying an additional 393 shares during the last quarter. Quarry LP purchased a new position in Alcoa in the 3rd quarter valued at about $43,000. Continuum Advisory LLC boosted its position in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,070 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after buying an additional 598 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AA has been the subject of a number of analyst reports. B. Riley raised shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Morgan Stanley reduced 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. JPMorgan Chase & Co. increased their price target 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. Jefferies Financial Group reduced their price target on shares of 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 increased their price target on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.17.

Alcoa Stock Performance

Shares of NYSE AA opened at $33.56 on Monday. 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 firm’s 50-day moving average price is $35.44 and its two-hundred day moving average price is $37.96. Alcoa Co. has a 52-week low of $27.12 and a 52-week high of $47.77. The stock has a market capitalization of $8.69 billion, a P/E ratio of -209.73, a P/E/G ratio of 0.19 and a beta of 2.55.

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 return on equity of 5.54% and a net margin of 0.50%. As a group, sell-side analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

Alcoa Company 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.