Alcoa Co. (NYSE:AA) Stock Holdings Lifted by Credit Suisse AG

Posted by on Jun 8th, 2023

Credit Suisse AG increased its position in shares of Alcoa Co. (NYSE:AA – Get Rating) by 53.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 494,476 shares of the industrial products company’s stock after acquiring an additional 172,175 shares during the period. Credit Suisse AG owned about 0.28% of Alcoa worth $22,484,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in AA. Moors & Cabot Inc. increased its position in Alcoa by 2.2% in the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock worth $788,000 after buying an additional 185 shares during the period. Buckingham Strategic Partners boosted its stake in Alcoa by 1.9% during the third quarter. Buckingham Strategic Partners now owns 13,179 shares of the industrial products company’s stock worth $444,000 after buying an additional 240 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Alcoa by 0.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock valued at $2,206,000 after buying an additional 284 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Alcoa by 0.6% during the 4th quarter. Arizona State Retirement System now owns 50,930 shares of the industrial products company’s stock worth $2,316,000 after acquiring an additional 286 shares during the period. Finally, Signaturefd LLC increased its stake in Alcoa by 25.8% in the fourth quarter. Signaturefd LLC now owns 1,498 shares of the industrial products company’s stock valued at $68,000 after acquiring an additional 307 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently weighed in on AA shares. BMO Capital Markets decreased their price target on shares of Alcoa from $45.00 to $40.00 and set a “market perform” rating for the company in a research note on Thursday, April 20th. StockNews.com started coverage on Alcoa in a research note on Thursday, May 18th. They set a “sell” rating for the company. B. Riley reduced their target price on shares of Alcoa from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, April 21st. Morgan Stanley dropped their price target on Alcoa from $47.00 to $43.00 in a report on Tuesday, April 25th. Finally, Citigroup upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $65.00 in a research note on Tuesday, February 21st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.78.

Alcoa Stock Up 2.3 %

Shares of AA opened at $35.36 on Thursday. Alcoa Co. has a 52 week low of $31.14 and a 52 week high of $65.90. The stock has a fifty day moving average of $37.11 and a 200-day moving average of $44.01. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.92 and a current ratio of 1.78. The stock has a market capitalization of $6.31 billion, a price-to-earnings ratio of -7.62, a PEG ratio of 4.12 and a beta of 2.44.

Alcoa (NYSE:AA – Get Rating) last issued its quarterly earnings results on Wednesday, April 19th. The industrial products company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.18). Alcoa had a positive return on equity of 4.02% and a negative net margin of 6.78%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter last year, the firm posted $3.06 EPS. Alcoa’s revenue for the quarter was down 18.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Alcoa Co. will post 0.79 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Tuesday, May 16th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Alcoa’s dividend payout ratio (DPR) is currently -8.62%.

Alcoa Company Profile

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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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