New York Life Investment Management LLC Buys 3,996 Shares of Alcoa Co. (NYSE:AA)

New York Life Investment Management LLC raised its stake in Alcoa Co. (NYSE:AA) by 17.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,236 shares of the industrial products company’s stock after purchasing an additional 3,996 shares during the period. New York Life Investment Management LLC’s holdings in Alcoa were worth $1,029,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Quarry LP bought a new stake in Alcoa in the 3rd quarter valued at $43,000. Continuum Advisory LLC boosted its holdings 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 purchasing an additional 1,070 shares during the period. UMB Bank n.a. lifted its holdings in shares of Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 598 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 1,157 shares during the period. Finally, Millburn Ridgefield Corp bought a new position in shares of Alcoa during the 3rd quarter worth about $89,000. 82.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on AA. Morgan Stanley reduced their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Bank of America raised their price objective on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Jefferies Financial Group reduced their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 6th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $46.55.

Alcoa Stock Down 5.8 %

Shares of NYSE AA opened at $31.33 on Tuesday. The stock has a market cap of $8.11 billion, a P/E ratio of -195.81, a P/E/G ratio of 0.19 and a beta of 2.43. The firm has a 50 day moving average price of $36.41 and a 200 day moving average price of $38.02. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa Co. has a 52-week low of $26.57 and a 52-week high of $47.77.

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

Alcoa Dividend Announcement

The business 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 $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) 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.