Creative Planning Acquires 4,828 Shares of Alcoa Co. (NYSE:AA)

Creative Planning raised its holdings in Alcoa Co. (NYSE:AA) by 25.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,853 shares of the industrial products company’s stock after acquiring an additional 4,828 shares during the period. Creative Planning’s holdings in Alcoa were worth $949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Fifth Third Bancorp grew its position in Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 309 shares during the last quarter. Pacer Advisors Inc. grew its position in Alcoa by 1.4% in the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock valued at $1,073,000 after acquiring an additional 368 shares during the last quarter. Diversified Trust Co grew its holdings in shares of Alcoa by 5.7% during the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 416 shares during the last quarter. CWM LLC grew its holdings in shares of Alcoa by 19.5% during the second quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 596 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in shares of Alcoa by 0.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 105,839 shares of the industrial products company’s stock worth $3,571,000 after purchasing an additional 737 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

AA has been the topic of several research reports. B. Riley boosted their price target on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. Morgan Stanley reduced their price target on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. started coverage on Alcoa in a report on Wednesday, September 25th. They set a “neutral” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.64.

Alcoa Price Performance

Shares of AA opened at $39.25 on Friday. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The business’s 50 day moving average price is $33.55 and its two-hundred day moving average price is $36.44. The firm has a market cap of $7.05 billion, a PE ratio of -10.44 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the firm earned ($0.35) earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Alcoa Co. will post 0.56 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.02%. Alcoa’s dividend payout ratio is -10.64%.

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.