Mutual of America Capital Management LLC Reduces Stake in Alcoa Co. (NYSE:AA)

Mutual of America Capital Management LLC lessened its position in shares of Alcoa Co. (NYSE:AA) by 2.3% in the fourth quarter, Holdings Channel reports. The fund owned 136,473 shares of the industrial products company’s stock after selling 3,146 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Alcoa were worth $5,156,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of AA. Quarry LP bought a new position in Alcoa in the third quarter worth approximately $43,000. Continuum Advisory LLC increased its stake in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 1,070 shares in the last quarter. UMB Bank n.a. raised its holdings in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after purchasing an additional 598 shares during the period. GAMMA Investing LLC lifted its position in Alcoa by 399.0% during the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in Alcoa during the third quarter valued at about $89,000. Institutional investors own 82.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on AA shares. BMO Capital Markets raised their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Jefferies Financial Group dropped their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Stock Performance

Shares of NYSE AA opened at $31.11 on Wednesday. The company has a market cap of $8.05 billion, a P/E ratio of -194.46, a P/E/G ratio of 0.19 and a beta of 2.43. Alcoa Co. has a 52-week low of $26.57 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 fifty day moving average is $36.26 and its two-hundred day moving average is $38.01.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. Alcoa’s dividend payout ratio is currently -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.