Dimensional Fund Advisors LP Lowers Holdings in Alcoa $AA

Dimensional Fund Advisors LP cut its holdings in Alcoa (NYSE:AA) by 25.5% in the first quarter, Holdings Channel reports. The fund owned 8,625,297 shares of the industrial products company’s stock after selling 2,955,506 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Alcoa were worth $572,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of AA. Basepoint Wealth LLC bought a new stake in Alcoa during the fourth quarter valued at about $25,000. Raleigh Capital Management Inc. grew its position 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 worth $28,000 after purchasing an additional 525 shares during the last quarter. CoreCap Advisors LLC grew its holdings in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after buying an additional 237 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares during the last quarter. Finally, Quarry LP boosted its position in Alcoa by 96.0% in the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock valued at $37,000 after buying an additional 340 shares during the last quarter.

Wall Street Analysts Forecast Growth

AA has been the topic of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Wells Fargo & Company dropped their price target on shares of Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research note on Friday. Zacks Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Friday. Finally, Bank of America dropped their price target on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.73.

Alcoa Trading Down 0.9%

NYSE:AA opened at $43.60 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38. The stock has a 50-day simple moving average of $61.27 and a 200-day simple moving average of $62.45. The stock has a market cap of $11.51 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.48 and a beta of 1.63.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The company had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. As a group, analysts anticipate that Alcoa will post 6.79 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a yield of 0.9%. Alcoa’s payout ratio is 8.23%.

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.