Two Sigma Investments LP Has $34.77 Million Holdings in Alcoa Co. (NYSE:AA)

Two Sigma Investments LP decreased its stake in shares of Alcoa Co. (NYSE:AA) by 49.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 920,411 shares of the industrial products company’s stock after selling 899,642 shares during the period. Two Sigma Investments LP owned 0.36% of Alcoa worth $34,773,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. HB Wealth Management LLC bought a new stake in Alcoa during the fourth quarter worth approximately $211,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Alcoa in the fourth quarter worth $454,000. Ausbil Investment Management Ltd bought a new stake in shares of Alcoa during the 4th quarter worth $429,000. Rheos Capital Works Inc. acquired a new position in Alcoa in the 4th quarter valued at $2,002,000. Finally, Corient Private Wealth LLC raised its holdings in Alcoa by 4.6% in the 4th quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company’s stock worth $816,000 after acquiring an additional 948 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Stock Down 2.1%

Shares of AA stock opened at $28.79 on Wednesday. Alcoa Co. has a one year low of $21.53 and a one year high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The stock has a fifty day moving average price of $27.66 and a 200 day moving average price of $34.76. The stock has a market cap of $7.45 billion, a P/E ratio of -179.94, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29.

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

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, May 20th. Alcoa’s dividend payout ratio is 12.05%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AA shares. HC Wainwright upped their price target on shares of Alcoa to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. StockNews.com upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. B. Riley lowered their target price on Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Bank of America reiterated an “underperform” rating and set a $26.00 price target (down from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. Finally, UBS Group reissued a “neutral” rating and issued a $31.00 price objective on shares of Alcoa in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.08.

Alcoa 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.