Proficio Capital Partners LLC Makes New $1.22 Million Investment in Alcoa Co. (NYSE:AA)

Proficio Capital Partners LLC purchased a new position in Alcoa Co. (NYSE:AA) in the fourth quarter, Holdings Channel reports. The fund purchased 32,377 shares of the industrial products company’s stock, valued at approximately $1,223,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AA. SBI Securities Co. Ltd. acquired a new stake in shares of Alcoa in the fourth quarter worth about $29,000. Smartleaf Asset Management LLC lifted its position in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after buying an additional 393 shares during the last quarter. Quarry LP acquired a new stake in shares of Alcoa in the third quarter worth about $43,000. Continuum Advisory LLC lifted its position in shares of Alcoa by 1,945.5% in the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,070 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after buying an additional 598 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

AA has been the subject of several research analyst reports. Morgan Stanley cut their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Jefferies Financial Group cut their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, BMO Capital Markets boosted their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Four investment 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. According to data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and an average price target of $50.17.

Alcoa Stock Performance

AA stock opened at $34.85 on Friday. The business’s fifty day moving average is $35.33 and its 200-day moving average is $37.94. 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 company has a market cap of $9.02 billion, a P/E ratio of -217.81, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. Alcoa Co. has a twelve month low of $27.12 and a twelve month high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Equities research analysts forecast that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.15%. The ex-dividend date was Tuesday, March 4th. 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.