Thrivent Financial for Lutherans Decreases Stock Holdings in Alcoa Co. (NYSE:AA)

Thrivent Financial for Lutherans trimmed its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,291,581 shares of the industrial products company's stock after selling 24,441 shares during the period. Thrivent Financial for Lutherans owned approximately 0.50% of Alcoa worth $49,829,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. ANTIPODES PARTNERS Ltd bought a new stake in shares of Alcoa during the second quarter valued at approximately $93,061,000. L1 Capital Pty Ltd purchased a new position in shares of Alcoa during the 1st quarter worth $72,658,000. Marshall Wace LLP raised its holdings in Alcoa by 770.9% during the second quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company's stock valued at $56,599,000 after acquiring an additional 1,259,430 shares during the period. Capital Research Global Investors raised its stake in Alcoa by 29.8% during 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 purchasing an additional 475,000 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Alcoa by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company's stock valued at $49,958,000 after buying an additional 444,393 shares during the last quarter.

Alcoa Trading Up 3.0 %

Shares of NYSE AA traded up $1.30 during mid-day trading on Tuesday, reaching $45.28. The company had a trading volume of 2,462,968 shares, compared to its average volume of 5,851,690. The stock has a market cap of $11.70 billion, a price-to-earnings ratio of -25.57, a price-to-earnings-growth ratio of 0.84 and a beta of 2.42. Alcoa Co. has a 52 week low of $23.80 and a 52 week high of $46.55. The business's 50-day moving average is $39.24 and its 200-day moving average is $37.70. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted ($1.14) earnings per share. Equities analysts expect that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa's dividend payout ratio is -22.73%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. B. Riley Financial reiterated a "neutral" rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Argus upgraded shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research report on Wednesday, October 23rd. Morgan Stanley lifted their price target on Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a research report on Friday, October 18th. Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research report on Wednesday, September 4th. Finally, Bank of America raised Alcoa from a "neutral" rating to a "buy" rating and raised their price objective for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $44.75.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares of the company's stock, valued at $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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.