Kestra Private Wealth Services LLC decreased its position in shares of Alcoa Co. (NYSE:AA – Get Rating) by 7.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,648 shares of the industrial products company’s stock after selling 614 shares during the period. Kestra Private Wealth Services LLC’s holdings in Alcoa were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of AA. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Alcoa by 1,748.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,437,142 shares of the industrial products company’s stock valued at $262,723,000 after buying an additional 4,197,142 shares during the period. Soroban Capital Partners LP acquired a new stake in shares of Alcoa during the fourth quarter worth $226,347,000. Renaissance Technologies LLC acquired a new stake in shares of Alcoa during the first quarter worth $318,670,000. Egerton Capital UK LLP acquired a new stake in shares of Alcoa during the first quarter worth $317,854,000. Finally, Third Point LLC acquired a new stake in shares of Alcoa during the first quarter worth $213,821,000.
Analyst Ratings Changes
A number of analysts recently weighed in on AA shares. B. Riley cut their price target on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 28th. Credit Suisse Group decreased their price target on shares of Alcoa from $82.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. The Goldman Sachs Group dropped their price target on Alcoa from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $51.00 to $66.00 in a research report on Friday. Finally, BMO Capital Markets dropped their target price on shares of Alcoa from $57.00 to $55.00 in a report on Thursday, July 21st. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Alcoa presently has an average rating of “Moderate Buy” and an average target price of $80.00.
Alcoa Stock Performance
Alcoa (NYSE:AA – Get Rating) last announced its earnings results on Wednesday, July 20th. The industrial products company reported $2.67 EPS for the quarter, missing the consensus estimate of $3.71 by ($1.04). The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.48 billion. Alcoa had a return on equity of 30.66% and a net margin of 7.19%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. Research analysts forecast that Alcoa Co. will post 7.16 EPS for the current fiscal year.
Alcoa Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Tuesday, August 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Monday, August 8th. Alcoa’s payout ratio is presently 7.86%.
Alcoa Company Profile
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.
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