Alcoa Co. (NYSE:AA) Stock Holdings Decreased by New York Life Investment Management LLC

New York Life Investment Management LLC decreased its position in Alcoa Co. (NYSE:AA) by 4.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 20,131 shares of the industrial products company’s stock after selling 874 shares during the period. New York Life Investment Management LLC’s holdings in Alcoa were worth $684,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AA. Daiwa Securities Group Inc. boosted its stake in shares of Alcoa by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock valued at $900,000 after buying an additional 338 shares during the period. Quent Capital LLC grew its stake in Alcoa by 64.2% in the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 387 shares in the last quarter. Raymond James & Associates increased its position in Alcoa by 2.5% in the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock worth $607,000 after purchasing an additional 501 shares during the last quarter. Yousif Capital Management LLC increased its position in Alcoa by 0.7% in the 4th quarter. Yousif Capital Management LLC now owns 87,960 shares of the industrial products company’s stock worth $2,991,000 after purchasing an additional 574 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Alcoa by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 272,527 shares of the industrial products company’s stock valued at $9,266,000 after buying an additional 712 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AA has been the topic of a number of research reports. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a report on Friday, April 19th. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. BMO Capital Markets upped their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. UBS Group raised their target price on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday, April 19th. Finally, Bank of America upped their price target on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $33.54.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now directly owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Alcoa Stock Down 2.5 %

AA opened at $36.64 on Thursday. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $38.20. The business has a 50 day moving average of $33.59 and a 200-day moving average of $29.95. The stock has a market capitalization of $6.58 billion, a price-to-earnings ratio of -9.74, a P/E/G ratio of 3.77 and a beta of 2.45. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. Alcoa’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the company earned ($0.23) earnings per share. As a group, sell-side analysts anticipate that Alcoa Co. will post 0.2 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.09%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Alcoa 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 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.