Newbridge Financial Services Group Inc. Invests $27,000 in Alcoa Co. (NYSE:AA)

Newbridge Financial Services Group Inc. bought a new stake in Alcoa Co. (NYSE:AA) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 675 shares of the industrial products company’s stock, valued at approximately $27,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new stake in shares of Alcoa in the fourth quarter valued at approximately $39,000. Toronto Dominion Bank grew its position in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,592 shares during the last quarter. Fifth Third Bancorp grew its position in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares during the last quarter. William B. Walkup & Associates Inc. purchased a new stake in shares of Alcoa in the second quarter valued at about $102,000. Finally, Blue Trust Inc. boosted its stake in shares of Alcoa by 536.7% during the second quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock worth $114,000 after buying an additional 2,426 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Alcoa Price Performance

AA stock opened at $38.17 on Friday. The firm has a 50 day moving average of $32.82 and a 200-day moving average of $36.15. The company has a market cap of $6.85 billion, a price-to-earnings ratio of -10.15 and a beta of 2.42. 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.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. Alcoa’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. As a group, equities analysts expect that Alcoa Co. will post 0.56 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 1.05%. Alcoa’s payout ratio is -10.64%.

Wall Street Analysts Forecast Growth

AA has been the topic of several recent research reports. B. Riley boosted their price target on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. started coverage on Alcoa in a report on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 target price on the stock. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $52.00 in a research note on Tuesday. Finally, UBS Group raised their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.64.

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.