Macquarie Group Ltd. trimmed its stake in shares of Alcoa Co. (NYSE:AA – Free Report) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 685,058 shares of the industrial products company’s stock after selling 46,308 shares during the quarter. Macquarie Group Ltd. owned 0.38% of Alcoa worth $29,156,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in Alcoa by 4,737.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company’s stock worth $208,174,000 after acquiring an additional 4,483,625 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alcoa by 72.4% during the 1st quarter. Bank of New York Mellon Corp now owns 10,299,263 shares of the industrial products company’s stock worth $438,337,000 after acquiring an additional 4,325,754 shares during the last quarter. Franklin Resources Inc. grew its position in Alcoa by 24,497.6% during the 4th quarter. Franklin Resources Inc. now owns 3,960,949 shares of the industrial products company’s stock worth $180,104,000 after acquiring an additional 3,944,846 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Alcoa during the 1st quarter worth approximately $318,670,000. Finally, Norges Bank bought a new stake in Alcoa during the 4th quarter worth approximately $128,592,000. 79.55% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Credit Suisse Group decreased their price target on Alcoa from $46.00 to $42.00 and set an “outperform” rating on the stock in a research report on Thursday, July 20th. StockNews.com began coverage on Alcoa in a report on Thursday, August 17th. They set a “sell” rating on the stock. Wolfe Research downgraded Alcoa from a “market perform” rating to an “underperform” rating and set a $25.00 price objective on the stock. in a report on Tuesday, July 11th. B. Riley reduced their price objective on Alcoa from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Finally, BMO Capital Markets reduced their price objective on Alcoa from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Alcoa presently has an average rating of “Hold” and a consensus price target of $38.09.
Alcoa Stock Performance
AA stock opened at $28.85 on Friday. The business’s fifty day moving average is $31.86 and its 200-day moving average is $36.01. The company has a quick ratio of 0.87, a current ratio of 1.80 and a debt-to-equity ratio of 0.28. The company has a market cap of $5.15 billion, a P/E ratio of -3.54 and a beta of 2.46. Alcoa Co. has a twelve month low of $27.76 and a twelve month high of $57.61.
Alcoa (NYSE:AA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The industrial products company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.24. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.68 billion. Alcoa had a negative return on equity of 4.36% and a negative net margin of 13.37%. The firm’s revenue was down 26.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.67 EPS. Equities research analysts forecast that Alcoa Co. will post -1.4 EPS for the current year.
Alcoa Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Tuesday, August 8th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Monday, August 7th. Alcoa’s payout ratio is presently -4.90%.
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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