Confluence Investment Management LLC Has $455,000 Stake in Alcoa Co. (NYSE:AA)

Confluence Investment Management LLC increased its stake in shares of Alcoa Co. (NYSE:AA) by 9.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,428 shares of the industrial products company’s stock after acquiring an additional 1,027 shares during the period. Confluence Investment Management LLC’s holdings in Alcoa were worth $455,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of AA. Spire Wealth Management increased its stake in shares of Alcoa by 252.5% during the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 644 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in Alcoa during the 4th quarter worth $31,000. Private Wealth Management Group LLC acquired a new position in Alcoa during the 4th quarter worth about $33,000. Scarborough Advisors LLC acquired a new position in Alcoa during the 4th quarter worth about $39,000. Finally, Quest Partners LLC acquired a new position in shares of Alcoa in the 4th quarter valued at about $40,000.

Alcoa Stock Down 3.8 %

Shares of AA stock traded down $1.12 during trading hours on Monday, hitting $28.35. 4,767,124 shares of the company’s stock traded hands, compared to its average volume of 6,027,012. The stock’s fifty day simple moving average is $38.72 and its two-hundred day simple moving average is $34.80. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $45.48. The stock has a market cap of $5.09 billion, a price-to-earnings ratio of -7.84 and a beta of 2.45. 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 announced its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share 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 the consensus estimate of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) earnings per share. On average, analysts expect that Alcoa Co. will post 0.7 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Monday, August 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AA shares. Citigroup boosted their target price on Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. BMO Capital Markets upped their target price on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Wolfe Research raised Alcoa from an “underperform” rating to a “peer perform” rating in a report on Friday. UBS Group upped their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, April 19th. Finally, Bank of America dropped their target price on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.80.

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.