Meeder Asset Management Inc. Lowers Stock Position in Alcoa $AA

Meeder Asset Management Inc. lessened its holdings in shares of Alcoa (NYSE:AA) by 74.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,176 shares of the industrial products company’s stock after selling 41,710 shares during the period. Meeder Asset Management Inc.’s holdings in Alcoa were worth $940,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its stake in shares of Alcoa by 3.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 170 shares in the last quarter. Prime Capital Investment Advisors LLC boosted its stake in Alcoa by 1.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after acquiring an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after acquiring an additional 229 shares in the last quarter. CoreCap Advisors LLC grew its holdings in 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 purchasing an additional 237 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Alcoa by 1.8% in the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after purchasing an additional 241 shares during the period.

Alcoa Stock Performance

Shares of AA stock opened at $43.60 on Tuesday. The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 0.48 and a beta of 1.63. 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 one year low of $28.11 and a one year high of $84.38. The company’s 50-day moving average is $61.27 and its 200 day moving average is $62.45.

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

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is presently 8.23%.

Analysts Set New Price Targets

Several research firms have recently issued reports on AA. JPMorgan Chase & Co. lowered their target price on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Friday. Zacks Research downgraded Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada set a $70.00 price objective on Alcoa in a research report on Wednesday, July 1st. Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Five investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $62.73.

Alcoa 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.