Douglas Lane & Associates LLC Has $52.47 Million Stake in Alcoa Co. (NYSE:AA)

Douglas Lane & Associates LLC lessened its position in Alcoa Co. (NYSE:AA - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,388,690 shares of the industrial products company's stock after selling 33,265 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.54% of Alcoa worth $52,465,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company's stock valued at $128,000 after purchasing an additional 344 shares in the last quarter. CreativeOne Wealth LLC raised its position 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 acquiring an additional 360 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Alcoa by 1.4% in the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company's stock valued at $1,073,000 after acquiring an additional 368 shares during the last quarter. Rosenberg Matthew Hamilton grew its position in Alcoa by 15.3% in the third quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company's stock worth $133,000 after acquiring an additional 459 shares in the last quarter. Finally, Eads & Heald Wealth Management increased its stake in shares of Alcoa by 6.6% during the 3rd quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company's stock worth $324,000 after purchasing an additional 517 shares during the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Alcoa Price Performance

AA traded down $0.35 during midday trading on Wednesday, reaching $35.89. 3,770,883 shares of the company's stock were exchanged, compared to its average volume of 4,666,336. Alcoa Co. has a one year low of $24.86 and a one year high of $47.77. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of -20.39, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. The business has a 50-day simple moving average of $41.47 and a two-hundred day simple moving average of $37.89. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.97 billion. During the same period in the prior year, the business posted ($1.14) earnings per share. The business's revenue was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa's payout ratio is -22.73%.

Insider Transactions at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares of the company's stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AA shares. BMO Capital Markets increased their target price on shares of Alcoa from $42.00 to $45.00 and gave the stock a "market perform" rating in a research report on Thursday, October 17th. B. Riley raised shares of Alcoa from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. Argus raised Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research report on Wednesday, October 23rd. B. Riley Financial reissued a "neutral" rating and set a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Finally, Bank of America lifted their price target on Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Thursday, November 28th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $46.45.

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.