Douglas Lane & Associates LLC Purchases 27,217 Shares of Alcoa Co. (NYSE:AA)

Douglas Lane & Associates LLC boosted its position in shares of Alcoa Co. (NYSE:AA) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,421,955 shares of the industrial products company’s stock after acquiring an additional 27,217 shares during the period. Douglas Lane & Associates LLC owned approximately 0.79% of Alcoa worth $54,859,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new stake in Alcoa during the second quarter valued at approximately $27,000. UMB Bank n.a. boosted its holdings in Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in Alcoa during the fourth quarter valued at approximately $39,000. Toronto Dominion Bank boosted its holdings in Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AA has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on Alcoa in a report on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 target price on the stock. UBS Group boosted their target price on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Wednesday, September 4th. Morgan Stanley reduced their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.64.

Alcoa Trading Up 4.5 %

NYSE:AA traded up $1.77 during trading hours on Friday, hitting $41.02. 5,202,101 shares of the stock were exchanged, compared to its average volume of 5,973,030. The company’s 50 day moving average is $33.78 and its two-hundred day moving average is $36.54. The company has a market capitalization of $7.37 billion, a P/E ratio of -10.91 and a beta of 2.42. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. On average, sell-side analysts anticipate that Alcoa Co. will post 0.29 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Monday, August 12th. Alcoa’s 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.