Alcoa Co. (NYSE:AA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in shares of Alcoa Co. (NYSE:AA) by 12.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,022 shares of the industrial products company’s stock after selling 2,332 shares during the period. Federated Hermes Inc.’s holdings in Alcoa were worth $545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in shares of Alcoa by 1.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock worth $900,000 after buying an additional 338 shares in the last quarter. Quent Capital LLC grew its holdings in Alcoa by 64.2% during the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 387 shares during the period. Raymond James & Associates raised its position in Alcoa by 2.5% in the third quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 501 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Alcoa by 3.1% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 26,826 shares of the industrial products company’s stock valued at $780,000 after acquiring an additional 813 shares during the last quarter. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Alcoa during the 4th quarter valued at about $31,000.

Analysts Set New Price Targets

AA has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Bank of America upped their price target on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Morgan Stanley raised Alcoa from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $28.50 to $36.50 in a research note on Monday, April 22nd. B. Riley boosted their target price on Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Finally, UBS Group increased their price target on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, April 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $33.54.

Alcoa Price Performance

Shares of AA opened at $36.77 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of -9.78, a P/E/G ratio of 3.51 and a beta of 2.45. The business’s 50-day moving average is $32.72 and its 200-day moving average is $29.61. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $38.20.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the company posted ($0.23) EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts expect that Alcoa Co. will post 0.2 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. Alcoa’s payout ratio is -10.64%.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

About Alcoa

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 two segments, 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.