Intech Investment Management LLC reduced its holdings in Alcoa Co. (NYSE:AA - Free Report) by 60.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,007 shares of the industrial products company's stock after selling 10,558 shares during the quarter. Intech Investment Management LLC's holdings in Alcoa were worth $265,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of AA. Retirement Systems of Alabama raised its position in Alcoa by 41.6% in the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company's stock worth $12,107,000 after acquiring an additional 92,201 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Alcoa by 6.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company's stock valued at $24,233,000 after purchasing an additional 36,869 shares in the last quarter. Mountaineer Partners Management LLC lifted its stake in shares of Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company's stock valued at $416,505,000 after purchasing an additional 10,534,036 shares during the period. Geode Capital Management LLC lifted its stake in shares of Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company's stock valued at $161,838,000 after purchasing an additional 1,239,479 shares during the period. Finally, Impala Asset Management LLC purchased a new stake in Alcoa during the third quarter worth about $6,366,000. 82.39% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on AA shares. BMO Capital Markets lifted their price target on shares of Alcoa to $43.00 and gave the company a "hold" rating in a research report on Friday, January 17th. Morgan Stanley reduced their price objective on Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. UBS Group lowered their target price on Alcoa from $53.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday. Bank of America lifted their price target on Alcoa to $58.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alcoa currently has an average rating of "Moderate Buy" and an average price target of $49.92.
Read Our Latest Stock Analysis on Alcoa
Alcoa Trading Down 4.4 %
NYSE AA traded down $1.40 during mid-day trading on Friday, reaching $30.58. 6,441,051 shares of the stock were exchanged, compared to its average volume of 5,367,571. The business's fifty day simple moving average is $34.75 and its 200 day simple moving average is $38.19. 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 has a market capitalization of $7.92 billion, a PE ratio of -191.15, a PEG ratio of 0.19 and a beta of 2.55. Alcoa Co. has a 1-year low of $27.12 and a 1-year high of $47.77.
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 the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.
Alcoa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were issued 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 1.31%. Alcoa's 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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