Ausbil Investment Management Ltd Makes New $429,000 Investment in Alcoa Co. (NYSE:AA)

Ausbil Investment Management Ltd acquired a new stake in shares of Alcoa Co. (NYSE:AA) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 12,000 shares of the industrial products company’s stock, valued at approximately $429,000.

Other hedge funds also recently made changes to their positions in the company. Mountaineer Partners Management LLC raised its position in shares of Alcoa by 4,023.0% during the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after purchasing an additional 10,534,036 shares during the period. State Street Corp raised its holdings in Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after buying an additional 1,805,915 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alcoa by 42.0% during the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after acquiring an additional 1,239,479 shares during the period. ARGA Investment Management LP lifted its position in shares of Alcoa by 1.5% in the 3rd quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock valued at $89,267,000 after acquiring an additional 34,878 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alcoa by 32.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company’s stock worth $72,862,000 after purchasing an additional 467,986 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of AA opened at $35.36 on Friday. Alcoa Co. has a one year low of $24.86 and a one year high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The company has a market capitalization of $9.13 billion, a PE ratio of -220.98, a price-to-earnings-growth ratio of 0.19 and a beta of 2.47. The company’s fifty day moving average price is $39.29 and its 200 day moving average price is $37.52.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on AA. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. B. Riley raised Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. BMO Capital Markets raised their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. UBS Group upped their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised their price target 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

About Alcoa

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.