Commonwealth Equity Services LLC Sells 15,034 Shares of Alcoa $AA

Commonwealth Equity Services LLC reduced its stake in Alcoa (NYSE:AA) by 19.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,433 shares of the industrial products company’s stock after selling 15,034 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Alcoa were worth $3,211,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Mirabella Financial Services LLP raised its holdings in Alcoa by 12,233.1% in the 3rd 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 acquiring an additional 39,757,462 shares during the period. Dimensional Fund Advisors LP raised its holdings in Alcoa by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock valued at $615,428,000 after acquiring an additional 462,243 shares during the period. State Street Corp raised its holdings in Alcoa by 6.7% in the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock valued at $376,871,000 after acquiring an additional 721,063 shares during the period. Geode Capital Management LLC raised its holdings in Alcoa by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after acquiring an additional 349,426 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Alcoa by 211.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after acquiring an additional 4,247,559 shares during the period.

Alcoa Stock Performance

Shares of NYSE:AA opened at $72.48 on Wednesday. The company’s 50 day moving average price is $69.39 and its two-hundred day moving average price is $60.84. Alcoa has a 12-month low of $27.72 and a 12-month high of $84.38. The firm has a market cap of $19.13 billion, a PE ratio of 18.35 and a beta of 1.56. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA) last announced its 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 business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.15 EPS. Equities research analysts predict that Alcoa will post 7.95 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, June 1st. B. Riley Financial increased their target price on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Morgan Stanley upgraded shares of Alcoa from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $64.00 to $80.00 in a research report on Thursday, April 9th. Finally, Zacks Research lowered shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.60.

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.