Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in Alcoa Co. (NYSE:AA)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Alcoa Co. (NYSE:AA) by 38.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 97,050 shares of the industrial products company’s stock after acquiring an additional 27,080 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alcoa were worth $3,667,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of Alcoa in the 4th quarter valued at approximately $29,000. Smartleaf Asset Management LLC raised its position in Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 393 shares during the period. Quarry LP acquired a new position in Alcoa during the third quarter worth $43,000. Continuum Advisory LLC grew its stake 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 valued at $46,000 after buying an additional 1,070 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after buying an additional 598 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Trading Up 3.9 %

AA opened at $33.56 on Friday. The business’s 50-day simple moving average is $35.44 and its 200-day simple moving average is $37.91. The company has a market cap of $8.69 billion, a P/E ratio of -209.73, a PEG ratio of 0.19 and a beta of 2.55. Alcoa Co. has a one year low of $27.12 and a one year high of $47.77. 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 (NYSE:AA) last released its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.19%. Alcoa’s dividend payout ratio is presently -250.00%.

Analysts Set New Price Targets

AA has been the subject of several research reports. Morgan Stanley dropped their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Bank of America lifted their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Friday, January 24th. BMO Capital Markets raised their price target on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, HC Wainwright increased their price objective on Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $50.17.

Alcoa Company 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.