Aigen Investment Management LP Sells 16,685 Shares of Alcoa Co. (NYSE:AA)

Aigen Investment Management LP trimmed its holdings in Alcoa Co. (NYSE:AA - Free Report) by 45.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,163 shares of the industrial products company's stock after selling 16,685 shares during the period. Aigen Investment Management LP's holdings in Alcoa were worth $762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Mountaineer Partners Management LLC lifted its stake in Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company's stock worth $416,505,000 after purchasing an additional 10,534,036 shares during the last quarter. State Street Corp lifted its stake in Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company's stock worth $368,965,000 after purchasing an additional 1,805,915 shares during the last quarter. Paloma Partners Management Co lifted its stake in Alcoa by 11,317.8% in the third quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company's stock worth $55,084,000 after purchasing an additional 1,415,294 shares during the last quarter. Geode Capital Management LLC lifted its stake in Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company's stock worth $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. Finally, Global Alpha Capital Management Ltd. bought a new position in shares of Alcoa during the third quarter valued at about $36,165,000. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

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Alcoa Stock Up 0.0 %

AA traded up $0.01 during midday trading on Friday, reaching $32.84. The company's stock had a trading volume of 4,178,040 shares, compared to its average volume of 5,317,898. The firm has a market capitalization of $8.50 billion, a price-to-earnings ratio of -205.27, a PEG ratio of 0.19 and a beta of 2.55. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 1 year low of $27.12 and a 1 year high of $47.77. The stock's 50-day moving average is $35.92 and its 200-day moving average is $37.99.

Alcoa (NYSE:AA - Get Free Report) last announced 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 net margin of 0.50% and a return on equity of 5.54%. As a group, research analysts expect that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.22%. Alcoa's dividend payout ratio is -250.00%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Bank of America upped their price objective on shares of Alcoa to $58.00 and gave the company a "buy" rating in a research note on Friday, January 24th. B. Riley raised shares of Alcoa to a "strong-buy" rating in a research note on Tuesday, January 21st. Jefferies Financial Group lowered their price objective on shares of Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley lowered their price objective on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.55.

About Alcoa

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.