Envestnet Asset Management Inc. Sells 6,557 Shares of Alcoa (NYSE:AA)

Envestnet Asset Management Inc. lowered its stake in shares of Alcoa (NYSE:AA) by 32.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,561 shares of the industrial products company’s stock after selling 6,557 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alcoa were worth $414,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Northern Trust Corp lifted its position in Alcoa by 46.8% during the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company’s stock worth $96,324,000 after buying an additional 813,214 shares in the last quarter. Sourcerock Group LLC increased its stake in shares of Alcoa by 319.1% in the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company’s stock valued at $74,729,000 after acquiring an additional 1,506,009 shares during the last quarter. Douglas Lane & Associates LLC increased its stake in Alcoa by 1.0% in the first quarter. Douglas Lane & Associates LLC now owns 1,401,884 shares of the industrial products company’s stock valued at $42,757,000 after purchasing an additional 13,194 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Alcoa by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,231,797 shares of the industrial products company’s stock worth $46,535,000 after buying an additional 66,392 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Alcoa by 488.2% during the 4th quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company’s stock valued at $30,320,000 after purchasing an additional 666,117 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AA. Barclays upped their price objective on Alcoa to $31.00 and gave the stock a “hold” rating in a research report on Friday, May 16th. Morgan Stanley decreased their target price on Alcoa from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, July 18th. Bank of America upped their price target on shares of Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a research note on Thursday, July 17th. Citigroup upgraded Alcoa to a “buy” rating and set a $42.00 price objective on the stock in a research report on Tuesday, July 8th. Finally, UBS Group reiterated a “neutral” rating and issued a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.23.

Alcoa Stock Performance

Alcoa stock opened at $29.54 on Thursday. The business has a 50 day moving average of $29.43 and a 200-day moving average of $30.28. The company has a market capitalization of $7.65 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.17 and a beta of 2.24. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. Alcoa had a return on equity of 19.18% and a net margin of 7.86%. The company had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period last year, the company earned $0.16 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.4%. Alcoa’s payout ratio is 10.44%.

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.