Janney Montgomery Scott LLC Lowers Holdings in Alcoa Co. (NYSE:AA)

Janney Montgomery Scott LLC lowered its position in Alcoa Co. (NYSE:AA) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,002 shares of the industrial products company’s stock after selling 1,349 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Alcoa were worth $926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Quadrature Capital Ltd purchased a new stake in shares of Alcoa in the 1st quarter worth $593,000. Douglas Lane & Associates LLC raised its position in shares of Alcoa by 2.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after acquiring an additional 27,217 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of Alcoa during the 2nd quarter worth approximately $706,000. Blue Trust Inc. boosted its position in shares of Alcoa by 536.7% in the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 2,426 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Alcoa during the first quarter valued at about $3,064,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

AA has been the subject of several recent research reports. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a report on Wednesday, September 4th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, October 23rd. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Morgan Stanley increased their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets increased their target price on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Alcoa Stock Performance

Shares of NYSE AA opened at $44.02 on Friday. The stock has a fifty day moving average price of $38.94 and a two-hundred day moving average price of $37.62. The firm has a market cap of $11.37 billion, a P/E ratio of -25.01, a PEG ratio of 0.77 and a beta of 2.42. Alcoa Co. has a 1 year low of $23.80 and a 1 year high of $46.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.14) EPS. Research analysts forecast that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is currently -22.73%.

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.