Envestnet Asset Management Inc. Decreases Stock Position in Alcoa Co. (NYSE:AA)

Envestnet Asset Management Inc. decreased its stake in shares of Alcoa Co. (NYSE:AA) by 32.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,118 shares of the industrial products company’s stock after selling 9,727 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alcoa were worth $760,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Alcoa by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company’s stock worth $981,491,000 after buying an additional 165,420 shares during the period. Norges Bank acquired a new position in Alcoa during the 4th quarter worth approximately $259,273,000. Geode Capital Management LLC increased its position in shares of Alcoa by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company’s stock valued at $159,966,000 after purchasing an additional 39,022 shares during the last quarter. ARGA Investment Management LP raised its holdings in shares of Alcoa by 29.6% in the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after purchasing an additional 684,505 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Alcoa by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock worth $96,372,000 after purchasing an additional 192,078 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Trading Up 4.3 %

Shares of Alcoa stock opened at $25.59 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. The company has a market capitalization of $6.62 billion, a P/E ratio of -159.94, a PEG ratio of 0.19 and a beta of 2.28. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. The company’s fifty day moving average is $28.87 and its two-hundred day moving average is $35.95.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.42. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is presently 12.05%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. UBS Group cut their price target on Alcoa from $47.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Bank of America reiterated an “underperform” rating and issued a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. Jefferies Financial Group decreased their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price target on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Morgan Stanley cut their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.17.

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.