Invesco Ltd. Sells 83,530 Shares of Alcoa Co. (NYSE:AA)

Invesco Ltd. lowered its position in Alcoa Co. (NYSE:AA - Free Report) by 11.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 654,940 shares of the industrial products company's stock after selling 83,530 shares during the quarter. Invesco Ltd. owned 0.25% of Alcoa worth $24,744,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in shares of Alcoa in the fourth quarter valued at $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after acquiring an additional 393 shares in the last quarter. UMB Bank n.a. increased its holdings in Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock worth $51,000 after purchasing an additional 598 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock valued at $55,000 after buying an additional 1,157 shares during the last quarter. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Alcoa during the fourth quarter worth approximately $73,000. Hedge funds and other institutional investors own 82.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. UBS Group lowered their price objective on shares of Alcoa from $47.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group decreased their target price on Alcoa from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Bank of America restated an "underperform" rating and set a $26.00 price objective (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $44.17.

Alcoa Stock Performance

Alcoa stock traded up $1.22 during trading hours on Thursday, hitting $26.27. The stock had a trading volume of 2,161,511 shares, compared to its average volume of 5,413,320. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a market cap of $6.80 billion, a PE ratio of -163.94, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. The company has a 50-day moving average of $30.33 and a two-hundred day moving average of $36.65. 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 (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.42. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. The business had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.58 billion. On average, equities research analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.52%. The ex-dividend date was Tuesday, March 4th. Alcoa's dividend payout ratio is 12.05%.

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.