Alcoa $AA Stock Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its position in Alcoa (NYSE:AA) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 844,855 shares of the industrial products company’s stock after selling 16,743 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Alcoa were worth $35,484,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its holdings in shares of Alcoa by 3.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock valued at $341,000 after buying an additional 170 shares during the last quarter. Essential Partners LLC raised its position in Alcoa by 0.9% during the first quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock valued at $1,361,000 after acquiring an additional 193 shares in the last quarter. Himension Capital Singapore PTE. LTD. raised its position in Alcoa by 1.3% during the first quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock valued at $1,235,000 after acquiring an additional 246 shares in the last quarter. Sage Rhino Capital LLC lifted its stake in Alcoa by 7.0% in the first quarter. Sage Rhino Capital LLC now owns 4,276 shares of the industrial products company’s stock valued at $284,000 after acquiring an additional 279 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Alcoa by 4.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,373 shares of the industrial products company’s stock valued at $332,000 after acquiring an additional 282 shares during the last quarter.

Alcoa Stock Performance

AA stock traded down $0.62 during midday trading on Friday, hitting $42.20. 2,056,144 shares of the company traded hands, compared to its average volume of 5,835,047. Alcoa has a twelve month low of $35.01 and a twelve month high of $84.38. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 8.70, a price-to-earnings-growth ratio of 0.48 and a beta of 1.74. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. The business has a 50 day simple moving average of $47.63 and a 200-day simple moving average of $56.72.

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 analysts’ consensus estimates of $2.25 by ($0.13). The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, equities research analysts predict that Alcoa will post 6.61 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Alcoa’s payout ratio is currently 8.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a research report on Wednesday, July 1st. UBS Group reduced their price objective on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Bank of America decreased their price objective on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a report on Thursday, July 9th. Argus lowered their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company cut their target price on Alcoa from $71.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.00.

Insiders Place Their Bets

In other Alcoa news, EVP Renato Bacchi sold 700 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the completion of the sale, the executive vice president directly owned 74,930 shares in the company, valued at $3,822,928.60. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tammi Jones sold 15,628 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the sale, the executive vice president directly owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

About Alcoa

Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.

The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.

Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.