Thrivent Financial for Lutherans Sells 1,083,309 Shares of Alcoa Co. (NYSE:AA)

Thrivent Financial for Lutherans reduced its stake in Alcoa Co. (NYSE:AA - Free Report) by 83.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 208,272 shares of the industrial products company's stock after selling 1,083,309 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Alcoa worth $7,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ballentine Partners LLC boosted its position in Alcoa by 3.2% in the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company's stock valued at $339,000 after buying an additional 279 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company's stock worth $1,988,000 after acquiring an additional 300 shares during the last quarter. Wilmington Savings Fund Society FSB increased its holdings in Alcoa by 5.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company's stock worth $246,000 after purchasing an additional 328 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company's stock valued at $365,000 after purchasing an additional 339 shares during the last quarter. Finally, CreativeOne Wealth LLC boosted its stake in shares of Alcoa by 4.1% during the third quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company's stock valued at $352,000 after purchasing an additional 360 shares in the last quarter. 82.39% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AA. B. Riley upgraded shares of Alcoa to a "strong-buy" rating in a report on Tuesday, January 21st. HC Wainwright increased their price objective on Alcoa to $90.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Bank of America lifted their target price on Alcoa to $58.00 and gave the stock a "buy" rating in a report on Friday, January 24th. JPMorgan Chase & Co. increased their price target on Alcoa from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Thursday, January 16th. Finally, BMO Capital Markets lifted their price objective on Alcoa to $43.00 and gave the stock a "hold" rating in a research note on Friday, January 17th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alcoa presently has an average rating of "Moderate Buy" and an average price target of $50.17.

Alcoa Trading Up 1.0 %

Shares of Alcoa stock traded up $0.32 on Tuesday, reaching $33.79. 2,103,558 shares of the company's stock were exchanged, compared to its average volume of 5,242,301. The company has a market capitalization of $8.75 billion, a P/E ratio of -211.28, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. Alcoa Co. has a 52 week low of $27.12 and a 52 week high of $47.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The firm's 50-day moving average is $35.23 and its two-hundred day moving average is $38.09.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Sell-side analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa's payout ratio is -250.00%.

About Alcoa

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.