Alcoa $AA Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich lowered its stake in shares of Alcoa (NYSE:AA) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,093 shares of the industrial products company’s stock after selling 2,354 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Alcoa were worth $622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in Alcoa by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company’s stock valued at $207,490,000 after purchasing an additional 1,721,222 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Alcoa by 4.8% during the second quarter. Geode Capital Management LLC now owns 4,637,897 shares of the industrial products company’s stock worth $136,898,000 after buying an additional 211,141 shares in the last quarter. ARGA Investment Management LP raised its position in shares of Alcoa by 2.8% in the second quarter. ARGA Investment Management LP now owns 3,018,772 shares of the industrial products company’s stock valued at $89,084,000 after buying an additional 83,410 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Alcoa by 0.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,899,066 shares of the industrial products company’s stock valued at $57,922,000 after buying an additional 6,832 shares during the last quarter. Finally, L1 Capital Pty Ltd purchased a new position in shares of Alcoa during the first quarter valued at approximately $52,675,000.

Alcoa Stock Up 1.4%

AA opened at $36.32 on Friday. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The firm has a 50 day moving average price of $35.86 and a 200 day moving average price of $31.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. The company has a market cap of $9.41 billion, a PE ratio of 8.39, a price-to-earnings-growth ratio of 0.20 and a beta of 2.26.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. Alcoa’s revenue for the quarter was up 3.1% on a year-over-year basis. Sell-side analysts expect that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Tuesday, November 4th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, November 4th. Alcoa’s dividend payout ratio is currently 9.24%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AA. HSBC lifted their target price on shares of Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Wells Fargo & Company began coverage on Alcoa in a report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 price objective on the stock. B. Riley upped their target price on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research report on Wednesday. Finally, UBS Group raised their price target on Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, September 19th. Seven investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus price target of $42.35.

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.