Weekly Commentary: Historic November
Daiwa Securities Group Inc. increased its position in shares of Alcoa Co. ( NYSE:AA – Free Report ) by 71.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,900 shares of the industrial products company’s stock after acquiring an additional 15,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Alcoa were worth $1,385,000 at the end of the most recent quarter. Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in Alcoa by 518.6% in the first quarter. Tidal Investments LLC now owns 51,311 shares of the industrial products company’s stock valued at $1,734,000 after buying an additional 43,016 shares during the period. Comerica Bank lifted its stake in shares of Alcoa by 74.4% in the 1st quarter. Comerica Bank now owns 134,705 shares of the industrial products company’s stock valued at $4,552,000 after purchasing an additional 57,484 shares during the period. Cetera Advisors LLC boosted its position in shares of Alcoa by 24.0% in the 1st quarter. Cetera Advisors LLC now owns 10,831 shares of the industrial products company’s stock worth $366,000 after purchasing an additional 2,096 shares during the last quarter. Confluence Investment Management LLC grew its stake in shares of Alcoa by 9.9% during the second quarter. Confluence Investment Management LLC now owns 11,428 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 1,027 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in Alcoa by 3.2% in the second quarter. Douglas Lane & Associates LLC now owns 1,394,738 shares of the industrial products company’s stock valued at $55,483,000 after purchasing an additional 43,018 shares during the last quarter. Institutional investors own 82.39% of the company’s stock. Alcoa Stock Up 1.2 % AA stock opened at $46.45 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The stock has a market capitalization of $12.00 billion, a P/E ratio of -26.38, a P/E/G ratio of 0.92 and a beta of 2.42. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77. The business has a 50-day moving average of $41.44 and a 200-day moving average of $38.20. Alcoa Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is currently -22.73%. Analyst Ratings Changes AA has been the topic of a number of recent analyst reports. Bank of America raised their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Finally, BMO Capital Markets raised their price objective on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.25. Get Our Latest Report on AA Insider Buying and Selling at Alcoa In other news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website . Company insiders own 1.08% of the company’s stock. About Alcoa ( Free Report ) 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. See Also Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa Co. ( NYSE:AA – Free Report ). Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter .None
Trump aims to appoint son-in-law’s father as US ambassador to FranceMajor stock indexes on Wall Street drifted to a mixed finish Friday, capping a rare bumpy week for the market. The S&P 500 ended essentially flat, down less than 0.1%, after wavering between tiny gains and losses most of the day. The benchmark index posted a loss for the week, its first after three straight weekly gains. The Dow Jones Industrial Average slipped 0.2%, while the Nasdaq composite rose 0.1%, ending just below the record high it set on Wednesday. There were more than twice as many decliners than gainers on the New York Stock Exchange. Gains in technology stocks helped temper losses in communication services, financials and other sectors of the market. Broadcom surged 24.4% for the biggest gain in the S&P 500 after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Some tech stocks were a drag on the market. Nvidia fell 2.2%, Meta Platforms dropped 1.7% and Google parent Alphabet slid 1.1%. Among the market's other decliners were Airbnb, which fell 4.7% for the biggest loss in the S&P 500, and Charles Schwab, which closed 4% lower. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 17% after raising its forecast for revenue growth for the year. All told, the S&P 500 lost 0.16 points to close at 6,051.09. The Dow dropped 86.06 points to 43,828.06. The Nasdaq rose 23.88 points to 19,926.72. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to 57 all-time highs so far this year . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.40% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower.
Walmart is rolling big TV deals for the holidays, and the sale price on this 75-Inch Hisense 4K UltraHD model is hard to pass up. The 75-Inch Hisense Class 4K UHD LED LCD Roku TV is now on sale for $478, instead of $698, for a savings of $220 off. This is big discount on a mega-sized 75-inch smart TV that has 4K UltraHD definition. This is 4 times the resolution of a traditional 1080P model with more pixels and a full-array LED backlight for brighter colors and greater detail. Featuring a Roku operating system, this 75-Inch Hisense 4K UltraHD Roku TV offers access to all your favorite streaming apps, live TV and more viewing content. It’s also voice compatible with Google Assistant or Alexa and has a gaming mode, motion rate 120 technology and Dolby Vision HDR and HDR10. Walmart is offering the big discount on this 75-Inch Hisense Roku TV with free next-day delivery. Shop for this 75-Inch Hisense 4K Roku TV deal at Walmart here. You can also check out more TVs on sale from Walmart , including these top offers: Find more holiday markdowns on smart TVs at Walmart here. The Best Deals in December Our journalism needs your support. Please subscribe today to NJ.com . Dawn Magyar can be reached at dmagyar@njadvancemedia.com . Have a tip? Tell us at nj.com/tips/ .TCU leading scorer Frankie Collins will miss rest of season after breaking left foot
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