American International Group Inc. Sells 10,344 Shares of Alcoa Co. (NYSE:AA)

American International Group Inc. reduced its stake in shares of Alcoa Co. (NYSE:AAFree Report) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 241,069 shares of the industrial products company’s stock after selling 10,344 shares during the period. American International Group Inc. owned about 0.14% of Alcoa worth $8,196,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Alcoa by 34.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,312,340 shares of the industrial products company’s stock worth $146,626,000 after purchasing an additional 1,104,423 shares in the last quarter. Invesco Ltd. increased its holdings in Alcoa by 7.4% during the 3rd quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock worth $93,457,000 after purchasing an additional 222,884 shares in the last quarter. Norges Bank bought a new stake in Alcoa during the 4th quarter worth approximately $45,730,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Alcoa by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,325,714 shares of the industrial products company’s stock valued at $45,074,000 after acquiring an additional 91,242 shares in the last quarter. Finally, Douglas Lane & Associates LLC grew its holdings in shares of Alcoa by 16.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 1,197,317 shares of the industrial products company’s stock valued at $40,709,000 after acquiring an additional 173,367 shares in the last quarter.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the firm’s 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 sale, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Alcoa Trading Down 4.1 %

Shares of AA stock opened at $40.91 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 1.61. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $45.48. The company has a market capitalization of $7.35 billion, a PE ratio of -10.88 and a beta of 2.46. The business’s fifty day moving average is $38.58 and its 200 day moving average is $32.48.

Alcoa (NYSE:AAGet Free Report) last issued its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business posted ($0.23) EPS. The company’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Alcoa Co. will post 0.2 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.98%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Analysts Set New Price Targets

AA has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Jefferies Financial Group upped their target price on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Citigroup upped their target price on Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Finally, B. Riley upped their target price on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $35.04.

View Our Latest Report on AA

About Alcoa

(Free Report)

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.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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