Trexquant Investment LP cut its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 49.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,699 shares of the industrial products company's stock after selling 130,855 shares during the quarter. Trexquant Investment LP owned approximately 0.05% of Alcoa worth $5,127,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Captrust Financial Advisors raised its stake in Alcoa by 20.4% during the 3rd quarter. Captrust Financial Advisors now owns 6,208 shares of the industrial products company's stock valued at $240,000 after purchasing an additional 1,050 shares during the period. Verition Fund Management LLC lifted its holdings in shares of Alcoa by 18.7% in the third quarter. Verition Fund Management LLC now owns 17,953 shares of the industrial products company's stock worth $693,000 after buying an additional 2,823 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Alcoa by 318.9% during the third quarter. Janus Henderson Group PLC now owns 349,341 shares of the industrial products company's stock worth $13,479,000 after acquiring an additional 265,941 shares during the last quarter. Quarry LP bought a new stake in Alcoa in the 3rd quarter valued at $43,000. Finally, Quantinno Capital Management LP purchased a new stake in Alcoa in the 3rd quarter worth $253,000. 82.39% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have recently issued reports on AA. Jefferies Financial Group reduced their target price on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, January 6th. UBS Group decreased their price target on shares of Alcoa from $53.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. B. Riley raised shares of Alcoa to a "strong-buy" rating in a research note on Tuesday, January 21st. Morgan Stanley reduced their target price on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. 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 report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $46.25.
Read Our Latest Analysis on AA
Alcoa Trading Down 11.6 %
Shares of AA traded down $2.99 during trading hours on Thursday, reaching $22.87. 5,335,438 shares of the company traded hands, compared to its average volume of 5,428,126. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of -143.19, a PEG ratio of 0.19 and a beta of 2.28. Alcoa Co. has a 12-month low of $21.53 and a 12-month high of $47.77. The stock's fifty day moving average price is $32.71 and its 200 day moving average price is $37.62. 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 (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating 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%. Sell-side analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current 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 paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.75%. Alcoa's dividend payout ratio is currently -250.00%.
About Alcoa
(
Free Report)
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.
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