Fmr LLC Sells 185,443 Shares of Alcoa Co. (NYSE:AA)

FMR LLC decreased its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 44.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 231,781 shares of the industrial products company's stock after selling 185,443 shares during the period. FMR LLC owned 0.09% of Alcoa worth $8,942,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Quantbot Technologies LP grew its holdings in Alcoa by 78.7% in the 3rd quarter. Quantbot Technologies LP now owns 233,192 shares of the industrial products company's stock valued at $8,997,000 after buying an additional 102,692 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Alcoa by 18.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 306,162 shares of the industrial products company's stock valued at $11,812,000 after buying an additional 46,897 shares during the last quarter. Qsemble Capital Management LP grew its holdings in Alcoa by 10.5% in the 3rd quarter. Qsemble Capital Management LP now owns 58,306 shares of the industrial products company's stock valued at $2,249,000 after buying an additional 5,547 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in Alcoa by 71.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 35,900 shares of the industrial products company's stock valued at $1,385,000 after buying an additional 15,000 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in Alcoa by 5.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 10,019 shares of the industrial products company's stock valued at $387,000 after buying an additional 530 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

AA has been the topic of a number of research analyst reports. UBS Group raised their target price on Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. 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. Argus upgraded Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research report on Wednesday, October 23rd. B. Riley upgraded Alcoa from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. Finally, B. Riley Financial reiterated a "neutral" rating and issued a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $46.73.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.08% of the stock is owned by insiders.

Alcoa Trading Up 0.2 %

Shares of NYSE AA traded up $0.08 during midday trading on Thursday, hitting $39.62. The stock had a trading volume of 3,964,640 shares, compared to its average volume of 5,750,988. The company's 50-day simple moving average is $42.62 and its 200 day simple moving average is $38.34. The firm has a market cap of $10.24 billion, a P/E ratio of -22.47, a price-to-earnings-growth ratio of 0.85 and a beta of 2.44. Alcoa Co. has a fifty-two week low of $23.89 and a fifty-two week high of $47.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80.

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

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.01%. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

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.