Masters Capital Management LLC Sells 955,000 Shares of Alcoa Co. (NYSE:AA)

Masters Capital Management LLC lessened its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 50.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 945,000 shares of the industrial products company's stock after selling 955,000 shares during the period. Alcoa comprises approximately 2.1% of Masters Capital Management LLC's investment portfolio, making the stock its 14th biggest holding. Masters Capital Management LLC owned approximately 0.53% of Alcoa worth $37,592,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AA. Dimensional Fund Advisors LP increased its position in shares of Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company's stock worth $265,132,000 after purchasing an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Alcoa during the 2nd quarter worth about $93,061,000. L1 Capital Pty Ltd acquired a new position in shares of Alcoa during the 1st quarter worth about $72,658,000. Capital Research Global Investors raised its holdings in Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company's stock valued at $69,869,000 after acquiring an additional 475,000 shares during the last quarter. Finally, ARGA Investment Management LP grew its stake in shares of Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company's stock valued at $50,399,000 after buying an additional 997,912 shares during the period. Institutional investors own 82.39% of the company's stock.

Alcoa Stock Up 7.4 %

AA traded up $2.55 during trading hours on Tuesday, reaching $36.78. 9,673,645 shares of the stock traded hands, compared to its average volume of 6,047,787. The firm's fifty day simple moving average is $32.40 and its two-hundred day simple moving average is $35.80. The company has a market cap of $6.60 billion, a price-to-earnings ratio of -9.82 and a beta of 2.42. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the business earned ($0.35) EPS. As a group, analysts forecast that Alcoa Co. will post 0.7 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. Alcoa's dividend payout ratio is currently -10.64%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AA. Bank of America lowered their price objective on shares of Alcoa from $46.00 to $43.00 and set a "neutral" rating for the company in a research report on Thursday, July 18th. Morgan Stanley dropped their price objective on shares of Alcoa from $50.00 to $48.00 and set an "overweight" rating on the stock in a research note on Monday, July 22nd. UBS Group lifted their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, September 19th. B. Riley Financial restated a "neutral" rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Finally, Wolfe Research raised shares of 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $40.45.

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.