M&T Bank Corp Purchases 3,758 Shares of Alcoa Co. (NYSE:AA)

M&T Bank Corp boosted its stake in shares of Alcoa Co. (NYSE:AA) by 16.6% during the fourth quarter, Holdings Channel reports. The firm owned 26,437 shares of the industrial products company’s stock after purchasing an additional 3,758 shares during the quarter. M&T Bank Corp’s holdings in Alcoa were worth $999,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ballentine Partners LLC lifted its position in Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 279 shares during the period. Oregon Public Employees Retirement Fund lifted its position 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 purchasing an additional 300 shares during the period. Wilmington Savings Fund Society FSB lifted its position in Alcoa by 5.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock valued at $246,000 after purchasing an additional 328 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Alcoa by 3.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after buying an additional 339 shares during the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company’s stock valued at $352,000 after buying an additional 360 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of NYSE AA opened at $31.93 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The firm has a fifty day moving average price of $35.68 and a 200-day moving average price of $37.97. Alcoa Co. has a 1 year low of $27.12 and a 1 year high of $47.77. The stock has a market cap of $8.27 billion, a PE ratio of -199.54, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55.

Alcoa (NYSE:AA) last issued its earnings results 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 net margin of 0.50% and a return on equity of 5.54%. Equities analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.25%. Alcoa’s dividend payout ratio is -250.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. BMO Capital Markets upped their target price on shares of Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. Morgan Stanley reduced their target price 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. Finally, Jefferies Financial Group reduced their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.17.

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.