SG Americas Securities LLC Has $1.75 Million Holdings in Alcoa Co. (NYSE:AA)

SG Americas Securities LLC cut its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 57.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,264 shares of the industrial products company's stock after selling 60,122 shares during the quarter. SG Americas Securities LLC's holdings in Alcoa were worth $1,746,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Alcoa in the 2nd quarter valued at about $296,000. Newbridge Financial Services Group Inc. acquired a new position in Alcoa during the second quarter worth approximately $27,000. Sanctuary Advisors LLC acquired a new position in Alcoa during the second quarter worth approximately $304,000. Senator Investment Group LP acquired a new position in shares of Alcoa in the second quarter valued at approximately $8,610,000. Finally, William B. Walkup & Associates Inc. acquired a new position in shares of Alcoa in the second quarter valued at approximately $102,000. Institutional investors and hedge funds own 82.39% of the company's stock.

Alcoa Stock Up 1.9 %

AA traded up $0.71 on Wednesday, reaching $38.44. The company's stock had a trading volume of 4,671,048 shares, compared to its average volume of 5,988,619. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The business's 50 day moving average is $33.40 and its 200 day moving average is $36.42. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $45.48. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of -10.22 and a beta of 2.42.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The firm had revenue of $2.91 billion for 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%. The firm's revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.35) EPS. As a group, research analysts forecast that Alcoa Co. will post 0.56 EPS 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 dividend on an annualized basis and a dividend yield of 1.04%. Alcoa's payout ratio is presently -10.64%.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent analyst reports. Bank of America raised Alcoa from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. started coverage on Alcoa in a research report on Wednesday, September 25th. They set a "neutral" rating and a $36.00 target price on the stock. UBS Group upped their price objective on Alcoa from $38.00 to $40.00 and gave the company a "buy" rating in a research report on Thursday, September 19th. Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. Finally, Morgan Stanley dropped their target price on Alcoa from $50.00 to $48.00 and set an "overweight" rating for the company in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $41.64.

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.