Occudo Quantitative Strategies LP Sells 13,529 Shares of Alcoa Co. (NYSE:AA)

Occudo Quantitative Strategies LP decreased its stake in Alcoa Co. (NYSE:AA) by 43.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 17,821 shares of the industrial products company’s stock after selling 13,529 shares during the period. Occudo Quantitative Strategies LP’s holdings in Alcoa were worth $673,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after acquiring an additional 296 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Alcoa during the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC increased its holdings in Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 393 shares in the last quarter. UMB Bank n.a. increased its holdings in Alcoa by 78.5% in the fourth 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 in the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in Alcoa in the fourth quarter valued at approximately $73,000. 82.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. B. Riley reduced their price objective on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M UBS Group reduced their price target on shares of Alcoa from $47.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Bank of America reaffirmed an “underperform” rating and issued a $26.00 target price (down from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. Finally, Morgan Stanley reduced their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.17.

Alcoa Stock Up 2.7%

Shares of NYSE:AA opened at $29.42 on Thursday. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a market capitalization of $7.62 billion, a PE ratio of -183.88, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. The business has a fifty day moving average price of $27.90 and a two-hundred day moving average price of $35.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.73 by $0.42. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.58 billion. Analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.36%. Alcoa’s dividend payout ratio is presently 12.05%.

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.