Van ECK Associates Corp Reduces Stock Position in Alcoa Co. (NYSE:AA)

Van ECK Associates Corp cut its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 248,407 shares of the industrial products company's stock after selling 22,869 shares during the quarter. Van ECK Associates Corp owned approximately 0.10% of Alcoa worth $9,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quarry LP acquired a new position in Alcoa in the third quarter valued at approximately $43,000. Continuum Advisory LLC boosted its holdings in Alcoa by 1,945.5% in the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 1,070 shares in the last quarter. UMB Bank n.a. boosted its holdings in Alcoa by 78.5% in the fourth 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 in the last quarter. GAMMA Investing LLC boosted its holdings in Alcoa by 399.0% in the fourth 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 in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in Alcoa in the third quarter valued at approximately $89,000.

Analysts Set New Price Targets

AA has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. B. Riley upgraded shares of Alcoa to a "strong-buy" rating in a research report on Tuesday, January 21st. BMO Capital Markets raised their target price on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Bank of America raised their target price on shares of Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, Morgan Stanley lowered their target price on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Alcoa has a consensus rating of "Moderate Buy" and an average target price of $46.55.

Alcoa Price Performance

Alcoa stock traded up $1.08 during midday trading on Thursday, reaching $37.26. The company's stock had a trading volume of 5,980,973 shares, compared to its average volume of 5,073,542. Alcoa Co. has a fifty-two week low of $24.86 and a fifty-two week high of $47.77. 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 stock's 50 day simple moving average is $37.07 and its 200 day simple moving average is $37.77. The firm has a market capitalization of $9.63 billion, a PE ratio of -232.85, a P/E/G ratio of 0.20 and a beta of 2.43.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, equities research analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.07%. Alcoa's dividend payout ratio (DPR) is currently -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.