M&T Bank Corp Sells 3,870 Shares of Alcoa (NYSE:AA)

M&T Bank Corp decreased its stake in Alcoa (NYSE:AA) by 14.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,567 shares of the industrial products company’s stock after selling 3,870 shares during the period. M&T Bank Corp’s holdings in Alcoa were worth $689,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 296 shares during the period. Versant Capital Management Inc increased its stake in Alcoa by 134.7% during the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 520 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Alcoa in the fourth quarter worth approximately $36,000. Continuum Advisory LLC raised its holdings in shares of Alcoa by 30.7% during the fourth quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 345 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Alcoa by 58.8% during the first quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 851 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup raised shares of Alcoa to a “buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price target on shares of Alcoa from $25.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, June 18th. B. Riley lowered their price target on shares of Alcoa from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Tuesday. Barclays lifted their price target on shares of Alcoa to $31.00 and gave the company a “hold” rating in a report on Friday, May 16th. Finally, UBS Group reaffirmed a “neutral” rating and set a $31.00 price target on shares of Alcoa in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $42.23.

Alcoa Stock Down 4.2%

Shares of NYSE:AA opened at $28.53 on Wednesday. The stock’s 50-day moving average price is $28.69 and its two-hundred day moving average price is $31.00. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of 8.59, a PEG ratio of 0.18 and a beta of 2.25.

Alcoa (NYSE:AA) last issued 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 18.56% and a net margin of 6.79%. On average, research analysts forecast that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Tuesday, May 20th. Alcoa’s dividend payout ratio is currently 12.05%.

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.