Alcoa $AA Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lowered its position in Alcoa (NYSE:AA) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,680 shares of the industrial products company’s stock after selling 38,291 shares during the period. Federated Hermes Inc. owned approximately 0.17% of Alcoa worth $14,066,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. EPG Wealth Management LLC purchased a new stake in Alcoa during the third quarter worth $204,000. Vanguard Personalized Indexing Management LLC raised its stake in shares of Alcoa by 7.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 32,735 shares of the industrial products company’s stock worth $1,077,000 after buying an additional 2,160 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Alcoa by 52.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 165,736 shares of the industrial products company’s stock worth $5,451,000 after buying an additional 57,325 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Alcoa in the 3rd quarter valued at about $33,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Alcoa in the 3rd quarter valued at about $1,144,000.

Analysts Set New Price Targets

AA has been the subject of a number of recent research reports. Citigroup raised their price objective on shares of Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $50.00 price target (up previously from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. Morgan Stanley restated an “overweight” rating and issued a $52.00 price objective on shares of Alcoa in a report on Monday, December 15th. Finally, HSBC raised their target price on shares of Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $48.25.

Alcoa Stock Down 6.4%

AA stock opened at $56.74 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.45 and a quick ratio of 0.87. Alcoa has a 1-year low of $21.53 and a 1-year high of $66.95. The firm has a fifty day moving average price of $53.23 and a two-hundred day moving average price of $40.42. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 0.22 and a beta of 1.95.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.31. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.04 EPS. Research analysts predict that Alcoa will post 4.43 EPS for the current year.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.