KLP Kapitalforvaltning AS Purchases Shares of 39,300 Alcoa Co. (NYSE:AA)

KLP Kapitalforvaltning AS acquired a new position in shares of Alcoa Co. (NYSE:AA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 39,300 shares of the industrial products company’s stock, valued at approximately $1,485,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sei Investments Co. increased its position in Alcoa by 25.6% during the fourth quarter. Sei Investments Co. now owns 107,460 shares of the industrial products company’s stock worth $4,060,000 after purchasing an additional 21,918 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Alcoa by 29.5% during the 4th quarter. Quantbot Technologies LP now owns 302,070 shares of the industrial products company’s stock worth $11,412,000 after buying an additional 68,878 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Alcoa in the 4th quarter worth $107,000. Teacher Retirement System of Texas acquired a new position in Alcoa in the fourth quarter valued at $686,000. Finally, Chesapeake Capital Corp IL grew its position in Alcoa by 31.4% during the fourth quarter. Chesapeake Capital Corp IL now owns 10,334 shares of the industrial products company’s stock valued at $390,000 after acquiring an additional 2,468 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley cut their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. UBS Group reduced their price target on shares of Alcoa from $53.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday. HC Wainwright increased their price objective on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Jefferies Financial Group reduced their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. increased their price target on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Four research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.92.

Alcoa Stock Down 4.4 %

Shares of NYSE AA opened at $30.58 on Friday. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of -191.15, a PEG ratio of 0.19 and a beta of 2.55. Alcoa Co. has a 1 year low of $27.12 and a 1 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. The stock’s 50-day simple moving average is $34.75 and its 200-day simple moving average is $38.06.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.31%. Alcoa’s dividend payout ratio (DPR) is -250.00%.

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.