Slate Path Capital LP Trims Stock Position in Alcoa Co. (NYSE:AA)

Slate Path Capital LP cut its holdings in Alcoa Co. (NYSE:AA - Free Report) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,682,211 shares of the industrial products company's stock after selling 48,930 shares during the quarter. Alcoa makes up approximately 2.5% of Slate Path Capital LP's holdings, making the stock its 14th largest holding. Slate Path Capital LP owned about 1.43% of Alcoa worth $139,114,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after purchasing an additional 296 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Alcoa during the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC raised its position in shares of Alcoa by 59.7% in the 4th 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 in the last quarter. UMB Bank n.a. raised its position in shares of Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock worth $51,000 after acquiring an additional 598 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock valued at $55,000 after purchasing an additional 1,157 shares during the period. Hedge funds and other institutional investors own 82.39% of the company's stock.

Alcoa Stock Performance

NYSE AA traded down $0.75 during trading hours on Friday, hitting $25.69. The company's stock had a trading volume of 5,292,757 shares, compared to its average volume of 5,431,496. Alcoa Co. has a 12 month low of $21.53 and a 12 month high of $47.77. The company's 50 day simple moving average is $29.91 and its two-hundred day simple moving average is $36.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The company has a market cap of $6.65 billion, a P/E ratio of -160.56, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $1.73 by $0.42. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, sell-side analysts expect that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. Alcoa's payout ratio is 12.05%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AA. Morgan Stanley decreased their price objective on Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Jefferies Financial Group decreased their price target 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. HC Wainwright boosted their price objective on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. BMO Capital Markets boosted their price target on Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. lowered their price objective on Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.17.

Alcoa 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.