Wolverine Asset Management LLC Buys Shares of 10,000 Alcoa Co. (NYSE:AA)

Wolverine Asset Management LLC acquired a new stake in shares of Alcoa Co. (NYSE:AA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the industrial products company’s stock, valued at approximately $378,000.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Alcoa in the 3rd quarter valued at about $43,000. Continuum Advisory LLC raised its stake in Alcoa by 1,945.5% in the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,070 shares in the last quarter. UMB Bank n.a. lifted its position in Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 598 shares during the last quarter. GAMMA Investing LLC lifted its position in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,157 shares during the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in Alcoa in the 3rd quarter worth approximately $89,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Down 7.7 %

Shares of Alcoa stock opened at $34.40 on Monday. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of -214.98, a P/E/G ratio of 0.21 and a beta of 2.43. Alcoa Co. has a 52-week low of $24.86 and a 52-week 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 company’s 50 day moving average price is $36.93 and its 200-day moving average price is $37.92.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share 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%. Equities research analysts forecast that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.16%. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AA. BMO Capital Markets lifted their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Bank of America lifted their price target on Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Morgan Stanley cut their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group decreased their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, B. Riley raised Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.55.

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.