Alcoa $AA Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Alcoa (NYSE:AA) by 0.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 25,126,193 shares of the industrial products company’s stock after selling 71,988 shares during the period. Vanguard Group Inc. owned 0.10% of Alcoa worth $1,335,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirabella Financial Services LLP lifted its holdings in Alcoa by 12,233.1% during the third quarter. Mirabella Financial Services LLP now owns 40,082,462 shares of the industrial products company’s stock valued at $1,318,312,000 after purchasing an additional 39,757,462 shares in the last quarter. State Street Corp increased its stake in shares of Alcoa by 6.7% during the third quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock worth $376,871,000 after purchasing an additional 721,063 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Alcoa by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 11,118,560 shares of the industrial products company’s stock worth $365,710,000 after purchasing an additional 1,322,540 shares in the last quarter. L1 Capital Pty Ltd raised its position in shares of Alcoa by 22.3% during the 3rd quarter. L1 Capital Pty Ltd now owns 5,887,699 shares of the industrial products company’s stock worth $193,646,000 after purchasing an additional 1,073,357 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Alcoa by 0.3% in the 3rd quarter. Northern Trust Corp now owns 2,125,572 shares of the industrial products company’s stock valued at $69,910,000 after buying an additional 6,558 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Up 2.2%

Shares of NYSE AA opened at $63.83 on Friday. The stock has a market cap of $16.84 billion, a PE ratio of 16.16 and a beta of 1.70. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Alcoa has a 12-month low of $24.15 and a 12-month high of $75.70. The company has a 50-day moving average of $64.93 and a 200 day moving average of $54.62.

Alcoa (NYSE:AA) last released its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the business earned $2.15 earnings per share. As a group, sell-side analysts predict that Alcoa will post 7.33 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 10th. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is presently 10.13%.

Wall Street Analyst Weigh In

AA has been the topic of several research analyst reports. Argus set a $73.00 price objective on Alcoa in a report on Monday. B. Riley Financial raised their target price on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. BMO Capital Markets lifted their price target on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $64.00 to $80.00 in a research note on Thursday, April 9th. Finally, Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Alcoa presently has an average rating of “Hold” and an average target price of $64.27.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.