National Bank of Canada FI Trims Stock Holdings in Alcoa Co. (NYSE:AA)

National Bank of Canada FI decreased its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 32.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,878 shares of the industrial products company's stock after selling 14,091 shares during the quarter. National Bank of Canada FI's holdings in Alcoa were worth $1,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. acquired a new position in Alcoa in the 4th quarter valued at $29,000. Smartleaf Asset Management LLC increased its position in Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after acquiring an additional 393 shares during the period. Quarry LP bought a new position in Alcoa during the third quarter worth about $43,000. Continuum Advisory LLC raised its stake in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock worth $46,000 after purchasing an additional 1,070 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after purchasing an additional 598 shares during the period. 82.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AA has been the subject of a number of analyst reports. BMO Capital Markets lifted their price target on shares of Alcoa to $43.00 and gave the company a "hold" rating in a research report on Friday, January 17th. JPMorgan Chase & Co. dropped their price objective on Alcoa from $40.00 to $28.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Jefferies Financial Group cut their target price on Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Monday, January 6th. B. Riley raised Alcoa to a "strong-buy" rating in a research note on Tuesday, January 21st. Finally, Morgan Stanley cut their price objective on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.25.

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Alcoa Price Performance

Shares of AA traded down $0.08 during mid-day trading on Tuesday, reaching $24.94. 1,188,047 shares of the stock traded hands, compared to its average volume of 5,439,879. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. The firm has a fifty day moving average price of $32.05 and a 200 day moving average price of $37.34. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The company has a market cap of $6.46 billion, a price-to-earnings ratio of -155.91, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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, equities research analysts predict that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.60%. Alcoa's payout ratio is currently -250.00%.

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.