Barclays PLC Sells 686,834 Shares of Alcoa Co. (NYSE:AA)

Barclays PLC decreased its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 69.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 306,812 shares of the industrial products company's stock after selling 686,834 shares during the period. Barclays PLC owned 0.12% of Alcoa worth $11,840,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AA. Blue Trust Inc. boosted its stake in Alcoa by 536.7% during the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company's stock valued at $114,000 after purchasing an additional 2,426 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Alcoa by 79.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 22,400 shares of the industrial products company's stock valued at $891,000 after purchasing an additional 9,900 shares during the period. Fifth Third Bancorp boosted its stake in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 309 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Alcoa in the 2nd quarter worth approximately $240,000. Finally, Washburn Capital Management Inc. bought a new stake in shares of Alcoa in the 2nd quarter worth approximately $909,000. Institutional investors and hedge funds own 82.39% of the company's stock.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the sale, the executive vice president now directly owns 57,317 shares of the company's stock, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.08% of the company's stock.

Alcoa Price Performance

AA stock traded down $0.02 during midday trading on Tuesday, reaching $38.44. 4,421,841 shares of the company's stock traded hands, compared to its average volume of 5,732,202. The company has a 50-day simple moving average of $42.64 and a two-hundred day simple moving average of $38.18. Alcoa Co. has a 1-year low of $24.86 and a 1-year high of $47.77. The company has a market cap of $9.93 billion, a price-to-earnings ratio of -21.84, a PEG ratio of 0.79 and a beta of 2.44. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.97 billion. During the same period last year, the firm posted ($1.14) EPS. The business's revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that Alcoa Co. will post 0.9 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. Alcoa's dividend payout ratio (DPR) is currently -22.73%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AA shares. StockNews.com upgraded Alcoa from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised their price objective on Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Morgan Stanley raised their price objective on Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective for the company in a research report on Wednesday, September 4th. Finally, Bank of America raised their price objective on Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Thursday, November 28th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $46.73.

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.