Encompass Capital Advisors LLC Sells 1,126,878 Shares of Alcoa Co. (NYSE:AA)

Encompass Capital Advisors LLC lessened its stake in Alcoa Co. (NYSE:AA - Free Report) by 54.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 960,000 shares of the industrial products company's stock after selling 1,126,878 shares during the quarter. Alcoa accounts for about 2.0% of Encompass Capital Advisors LLC's holdings, making the stock its 18th biggest position. Encompass Capital Advisors LLC owned approximately 0.53% of Alcoa worth $38,189,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in shares of Alcoa in the 4th quarter valued at approximately $39,000. Quest Partners LLC acquired a new position in shares of Alcoa during the 4th quarter worth $40,000. Toronto Dominion Bank raised its holdings in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 1,592 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Alcoa by 15.1% in 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 last quarter. Finally, Blue Trust Inc. boosted its holdings in Alcoa by 536.7% in the second quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company's stock worth $114,000 after purchasing an additional 2,426 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company's stock.

Alcoa Stock Performance

Alcoa stock traded up $3.26 during trading hours on Thursday, hitting $39.27. The stock had a trading volume of 9,513,212 shares, compared to its average volume of 6,061,596. The company has a 50-day moving average of $32.35 and a two-hundred day moving average of $35.85. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $45.48. The company has a market cap of $7.05 billion, a PE ratio of -10.35 and a beta of 2.42.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analysts' expectations of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. Alcoa's quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned ($0.35) earnings per share. On average, equities research analysts anticipate that Alcoa Co. will post 0.56 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, August 12th. Alcoa's dividend payout ratio (DPR) is presently -10.64%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AA. StockNews.com lowered Alcoa from a "hold" rating to a "sell" rating in a report on Friday, September 20th. Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. UBS Group boosted their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. B. Riley Financial reiterated a "neutral" rating and issued a $41.00 target price on shares of Alcoa in a research note on Tuesday, September 17th. Finally, B. Riley boosted their target price on shares of Alcoa from $37.00 to $41.00 and gave the stock a "neutral" rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $40.82.

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.