Choreo LLC Has $1.15 Million Holdings in Alcoa Co. (NYSE:AA)

Choreo LLC boosted its position in Alcoa Co. (NYSE:AA) by 18.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,922 shares of the industrial products company’s stock after purchasing an additional 4,605 shares during the period. Choreo LLC’s holdings in Alcoa were worth $1,148,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Spire Wealth Management grew its position in shares of Alcoa by 252.5% during the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock worth $30,000 after buying an additional 644 shares during the period. Private Wealth Management Group LLC acquired a new stake in Alcoa in the fourth quarter worth $33,000. Scarborough Advisors LLC bought a new stake in Alcoa in the fourth quarter valued at $39,000. Quest Partners LLC acquired a new position in shares of Alcoa during the fourth quarter valued at about $40,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of AA opened at $31.36 on Friday. The stock has a 50 day moving average of $33.25 and a 200 day moving average of $35.35. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa Co. has a 12 month low of $23.07 and a 12 month high of $45.48. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of -8.34 and a beta of 2.42.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Alcoa Co. will post 0.7 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.28%. Alcoa’s payout ratio is -10.64%.

Analysts Set New Price Targets

Several research analysts have issued reports on AA shares. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. Morgan Stanley decreased their target price on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Bank of America dropped their price target on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. B. Riley boosted their price objective on Alcoa from $39.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.09.

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.