Alcoa $AA Stock Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its holdings in shares of Alcoa (NYSE:AA) by 63.7% during the third quarter, HoldingsChannel.com reports. The firm owned 21,506 shares of the industrial products company’s stock after selling 37,728 shares during the period. Vontobel Holding Ltd.’s holdings in Alcoa were worth $903,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AA. BlackRock Inc. purchased a new stake in shares of Alcoa in the second quarter valued at approximately $1,528,523,000. Bank of New York Mellon Corp purchased a new position in shares of Alcoa during the 2nd quarter valued at approximately $166,194,000. Nykredit A S purchased a new position in shares of Alcoa during the 2nd quarter valued at approximately $74,407,000. Deutsche Bank AG acquired a new stake in Alcoa in the 2nd quarter valued at $55,308,000. Finally, Man Group plc acquired a new stake in Alcoa in the 2nd quarter valued at $38,743,000.

Analysts Set New Price Targets

A number of research firms have recently commented on AA. Argus cut their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Barclays initiated coverage on Alcoa in a report on Wednesday, October 14th. They issued an “overweight” rating and a $55.00 price objective on the stock. B. Riley Financial cut their price objective on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Morgan Stanley cut their price objective on Alcoa from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Alcoa in a report on Monday, September 14th. Seven research 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.com, the company currently has an average rating of “Hold” and a consensus target price of $62.17.

Insiders Place Their Bets

In related news, EVP Renato Bacchi sold 700 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president directly owned 74,930 shares in the company, valued at approximately $3,822,928.60. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tammi A. Jones sold 15,628 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 39,819 shares in the company, valued at $2,014,841.40. This trade represents a 28.19% decrease in their position. The SEC filing for this sale provides additional information.

Alcoa Stock Up 0.4%

Alcoa stock opened at $41.63 on Tuesday. The company has a market capitalization of $10.99 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.51 and a beta of 1.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.31. Alcoa has a fifty-two week low of $35.12 and a fifty-two week high of $84.38. The firm has a 50 day moving average price of $46.72 and a 200 day moving average price of $55.82.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The business’s revenue for the quarter was up 23.7% compared to the same quarter last year. Research analysts expect that Alcoa will post 6.69 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 27th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $0.40 dividend on an annualized basis and a yield of 1.0%. Alcoa’s dividend payout ratio (DPR) is 6.91%.

About Alcoa

Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.

The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.