Legal & General Group Plc Lowers Position in Alcoa $AA

Legal & General Group Plc decreased its stake in Alcoa (NYSE:AA) by 3.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 374,028 shares of the industrial products company’s stock after selling 14,005 shares during the quarter. Legal & General Group Plc’s holdings in Alcoa were worth $19,876,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in Alcoa during the 3rd quarter worth approximately $27,000. Raleigh Capital Management Inc. grew its holdings in Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after buying an additional 525 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Alcoa by 91.9% during the third quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 556 shares during the last quarter. Finally, Hilltop National Bank bought a new position in shares of Alcoa during the fourth quarter worth $40,000.

Alcoa Stock Performance

NYSE AA opened at $77.59 on Monday. The company has a market cap of $20.48 billion, a P/E ratio of 19.64 and a beta of 1.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The business’s 50 day moving average price is $66.66 and its 200-day moving average price is $58.89. Alcoa has a fifty-two week low of $25.83 and a fifty-two week high of $77.72.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.15 earnings per share. Sell-side analysts predict that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is 10.13%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $64.00 to $80.00 in a research note on Thursday, April 9th. Wells Fargo & Company set a $68.00 target price on Alcoa in a report on Thursday, March 12th. B. Riley Financial boosted their target price on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. BMO Capital Markets increased their price target on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Finally, Zacks Research cut Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $68.60.

Alcoa Company Profile

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.