Cinctive Capital Management LP Makes New Investment in Alcoa Co. (NYSE:AA)

Cinctive Capital Management LP acquired a new stake in shares of Alcoa Co. (NYSE:AA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 66,646 shares of the industrial products company’s stock, valued at approximately $2,518,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AA. Ballentine Partners LLC boosted its position in shares of Alcoa by 3.2% in the 4th quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 279 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Alcoa by 0.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock valued at $1,988,000 after buying an additional 300 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Alcoa by 5.3% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after acquiring an additional 328 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock worth $365,000 after acquiring an additional 339 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Up 2.3 %

Alcoa stock opened at $30.83 on Thursday. The stock has a market cap of $7.98 billion, a PE ratio of -192.69, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. 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 has a fifty day moving average of $34.24 and a 200 day moving average of $38.11. Alcoa Co. has a one year low of $27.12 and a one year high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts predict that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s dividend payout ratio is presently -250.00%.

Wall Street Analyst Weigh In

AA has been the topic of a number of analyst reports. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group cut their price target 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. Morgan Stanley decreased 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. JPMorgan Chase & Co. increased their target price on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Finally, Bank of America lifted their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $49.92.

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.