Shelton Wealth Management LLC Invests $698,000 in Alcoa $AA

Shelton Wealth Management LLC bought a new position in shares of Alcoa (NYSE:AA – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,520 shares of the industrial products company’s stock, valued at approximately $698,000.

Other large investors have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new stake in shares of Alcoa in the fourth quarter worth $25,000. Raleigh Capital Management Inc. grew its position in Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the period. CoreCap Advisors LLC grew its position in Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after buying an additional 581 shares during the last quarter. Finally, Quarry LP lifted its holdings in shares of Alcoa by 96.0% in the 4th quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after buying an additional 340 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Argus set a $73.00 target price on Alcoa in a report on Monday, April 27th. Zacks Research lowered Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. BMO Capital Markets raised their price objective on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. B. Riley Financial dropped their price objective on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $66.36.

Get Our Latest Analysis on AA

Alcoa Price Performance

Shares of AA stock traded down $1.68 during trading hours on Tuesday, hitting $48.19. 1,742,108 shares of the company’s stock were exchanged, compared to its average volume of 6,459,049. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The firm has a market cap of $12.72 billion, a P/E ratio of 12.20 and a beta of 1.63. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $64.56 and a two-hundred day moving average of $62.78.

Alcoa (NYSE:AA – Get Free Report) last issued its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.Alcoa’s revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 EPS. Sell-side analysts forecast that Alcoa will post 7.41 EPS for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Alcoa Profile

(Free Report)

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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