ExodusPoint Capital Management LP Lowers Holdings in Alcoa Co. (NYSE:AA)

ExodusPoint Capital Management LP cut its holdings in Alcoa Co. (NYSE:AA - Free Report) by 98.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,413 shares of the industrial products company's stock after selling 476,616 shares during the quarter. ExodusPoint Capital Management LP's holdings in Alcoa were worth $356,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. SBI Securities Co. Ltd. bought a new position in Alcoa during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC lifted its stake in Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after purchasing an additional 393 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after buying an additional 598 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock worth $55,000 after acquiring an additional 1,157 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in Alcoa in the fourth quarter worth $73,000. Institutional investors own 82.39% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AA. Jefferies Financial Group dropped their price objective on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. UBS Group cut their price target on Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday. BMO Capital Markets raised their target price on shares of Alcoa to $43.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Finally, Bank of America reaffirmed an "underperform" rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.17.

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Alcoa Stock Down 7.2 %

NYSE:AA traded down $1.81 during mid-day trading on Thursday, hitting $23.26. 13,355,001 shares of the company's stock traded hands, compared to its average volume of 5,660,906. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The company has a market capitalization of $6.02 billion, a P/E ratio of -145.39, a P/E/G ratio of 0.19 and a beta of 2.28. The company has a fifty day moving average of $31.61 and a 200 day moving average of $37.17. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.42. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, analysts forecast that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Tuesday, March 4th. Alcoa's dividend payout ratio is presently -250.00%.

Alcoa Company 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.