Wealth Enhancement Advisory Services LLC Sells 661 Shares of Alcoa $AA

Wealth Enhancement Advisory Services LLC cut its holdings in shares of Alcoa (NYSE:AA) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,253 shares of the industrial products company’s stock after selling 661 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Alcoa were worth $506,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Montag A & Associates Inc. bought a new stake in shares of Alcoa during the first quarter valued at approximately $40,000. Quarry LP bought a new position in Alcoa in the 1st quarter valued at $57,000. GAMMA Investing LLC increased its stake in shares of Alcoa by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock valued at $70,000 after buying an additional 851 shares during the period. Banque Transatlantique SA bought a new stake in shares of Alcoa during the first quarter worth $74,000. Finally, UMB Bank n.a. lifted its stake in shares of Alcoa by 109.9% during the first quarter. UMB Bank n.a. now owns 2,855 shares of the industrial products company’s stock valued at $87,000 after acquiring an additional 1,495 shares during the period. Institutional investors own 82.39% of the company’s stock.

Alcoa Price Performance

Shares of AA opened at $34.50 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. The firm has a market capitalization of $8.93 billion, a PE ratio of 9.01, a P/E/G ratio of 0.21 and a beta of 2.20. The stock has a 50 day simple moving average of $31.49 and a 200 day simple moving average of $29.28. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77.

Alcoa (NYSE:AA) last released 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 company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were paid a $0.10 dividend. 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 dividend payout ratio (DPR) is currently 10.44%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AA. Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a report on Sunday, June 22nd. Bank of America boosted their price target on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, July 17th. B. Riley raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. UBS Group lifted their target price on shares of Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, September 19th. Finally, Citigroup raised Alcoa to a “buy” rating and set a $42.00 price target on the stock in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $42.27.

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.