Hudson Bay Capital Management LP Decreases Holdings in Alcoa $AA

Hudson Bay Capital Management LP reduced its stake in Alcoa (NYSE:AA) by 33.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 86,165 shares of the industrial products company’s stock after selling 43,993 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Alcoa were worth $2,834,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in Alcoa by 1.5% in the third quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company’s stock worth $740,000 after acquiring an additional 324 shares during the period. Lesa Sroufe & Co grew its position in shares of Alcoa by 0.5% during the 3rd quarter. Lesa Sroufe & Co now owns 75,504 shares of the industrial products company’s stock valued at $2,483,000 after acquiring an additional 349 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Alcoa by 3.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 11,581 shares of the industrial products company’s stock valued at $381,000 after acquiring an additional 362 shares during the period. Captrust Financial Advisors increased its stake in shares of Alcoa by 4.0% during the 2nd quarter. Captrust Financial Advisors now owns 11,617 shares of the industrial products company’s stock worth $343,000 after purchasing an additional 452 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Alcoa by 4.3% during the 2nd quarter. ProShare Advisors LLC now owns 11,477 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 470 shares during the last quarter.

Alcoa Stock Down 3.9%

AA opened at $56.35 on Friday. The company has a fifty day moving average price of $61.52 and a 200-day moving average price of $47.95. The firm has a market capitalization of $14.87 billion, a P/E ratio of 12.75 and a beta of 1.85. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.44 and a quick ratio of 0.87. Alcoa has a one year low of $21.53 and a one year high of $68.40.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.31. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The firm’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 earnings per share. Equities research analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. Alcoa’s dividend payout ratio (DPR) is presently 9.05%.

Analyst Ratings Changes

Several equities analysts recently commented on AA shares. Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price objective on shares of Alcoa in a research note on Monday, December 15th. Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 13th. UBS Group boosted their target price on Alcoa from $48.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. upgraded Alcoa from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $50.00 to $68.00 in a research note on Friday, March 13th. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.45.

Alcoa Company Profile

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.