Amundi lowered its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 293,721 shares of the industrial products company's stock after selling 194,254 shares during the period. Amundi owned 0.11% of Alcoa worth $10,574,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of AA. Crossmark Global Holdings Inc. increased its position in shares of Alcoa by 28.4% during the third quarter. Crossmark Global Holdings Inc. now owns 13,164 shares of the industrial products company's stock worth $508,000 after purchasing an additional 2,912 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Alcoa by 32.5% during the third quarter. Victory Capital Management Inc. now owns 543,086 shares of the industrial products company's stock worth $20,952,000 after purchasing an additional 133,345 shares in the last quarter. KBC Group NV increased its position in shares of Alcoa by 45.3% during the third quarter. KBC Group NV now owns 6,537 shares of the industrial products company's stock worth $252,000 after purchasing an additional 2,037 shares in the last quarter. ING Groep NV acquired a new position in shares of Alcoa during the third quarter worth $10,201,000. Finally, Impax Asset Management Group plc acquired a new position in shares of Alcoa during the third quarter worth $664,000. Hedge funds and other institutional investors own 82.39% of the company's stock.
Wall Street Analyst Weigh In
AA has been the topic of several research reports. Morgan Stanley cut their target price on Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. HC Wainwright upped their target price on Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. JPMorgan Chase & Co. upped their target price on Alcoa from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Thursday, January 16th. Jefferies Financial Group cut their target price on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, Bank of America upped their target price on Alcoa to $58.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alcoa currently has a consensus rating of "Moderate Buy" and an average price target of $50.17.
View Our Latest Stock Analysis on AA
Alcoa Price Performance
Shares of AA stock traded down $0.84 during mid-day trading on Tuesday, hitting $33.96. 5,353,492 shares of the stock were exchanged, compared to its average volume of 5,291,605. The firm has a fifty day moving average of $35.40 and a 200 day moving average of $37.97. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 52-week low of $27.12 and a 52-week high of $47.77. The company has a market cap of $8.79 billion, a PE ratio of -212.22, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55.
Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current year.
Alcoa Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 4th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, March 4th. Alcoa's dividend payout ratio is presently -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.
Further Reading
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