Signaturefd LLC Sells 1,325 Shares of Alcoa $AA

Signaturefd LLC decreased its holdings in Alcoa (NYSE:AA) by 39.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,061 shares of the industrial products company’s stock after selling 1,325 shares during the quarter. Signaturefd LLC’s holdings in Alcoa were worth $61,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Advisors Asset Management Inc. grew its stake in shares of Alcoa by 7.0% in the first quarter. Advisors Asset Management Inc. now owns 9,295 shares of the industrial products company’s stock worth $283,000 after purchasing an additional 606 shares during the last quarter. State of Michigan Retirement System grew its stake in shares of Alcoa by 1.1% in the first quarter. State of Michigan Retirement System now owns 61,875 shares of the industrial products company’s stock worth $1,887,000 after purchasing an additional 700 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Alcoa by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 72,400 shares of the industrial products company’s stock worth $2,208,000 after purchasing an additional 700 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Alcoa by 7.7% in the first quarter. CreativeOne Wealth LLC now owns 10,681 shares of the industrial products company’s stock worth $326,000 after purchasing an additional 764 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Alcoa by 33.3% in the second quarter. GAMMA Investing LLC now owns 3,064 shares of the industrial products company’s stock worth $90,000 after purchasing an additional 766 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Trading Down 0.9%

AA opened at $34.50 on Monday. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company has a market cap of $8.93 billion, a P/E ratio of 9.01, a price-to-earnings-growth ratio of 0.21 and a beta of 2.20. The company has a fifty day moving average price of $31.49 and a two-hundred day moving average price of $29.28.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. The business’s revenue was up 3.9% compared to the same quarter last year. Analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Alcoa’s payout ratio is presently 10.44%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AA shares. Morgan Stanley reduced their price objective on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating on the stock in a research note on Friday, July 18th. Weiss Ratings restated a “sell (d+)” rating on shares of Alcoa in a report on Saturday, September 27th. UBS Group boosted their target price on shares of Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, September 19th. Wall Street Zen lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Finally, Citigroup upgraded shares of Alcoa to a “buy” rating and set a $42.00 target price on the stock in a report on Tuesday, July 8th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $42.27.

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.