Nwam LLC raised its holdings in Alcoa Co. (NYSE:AA – Free Report) by 12.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,604 shares of the industrial products company’s stock after purchasing an additional 9,196 shares during the quarter. Nwam LLC’s holdings in Alcoa were worth $3,473,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Alcoa by 72.4% in the 1st quarter. Bank of New York Mellon Corp now owns 10,299,263 shares of the industrial products company’s stock valued at $438,337,000 after purchasing an additional 4,325,754 shares in the last quarter. State Street Corp boosted its holdings in Alcoa by 5.6% in the 1st quarter. State Street Corp now owns 6,740,470 shares of the industrial products company’s stock valued at $606,845,000 after purchasing an additional 356,919 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Alcoa by 4,737.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company’s stock valued at $208,174,000 after acquiring an additional 4,483,625 shares during the period. Franklin Resources Inc. lifted its position in shares of Alcoa by 11.5% during the 1st quarter. Franklin Resources Inc. now owns 4,416,699 shares of the industrial products company’s stock valued at $187,975,000 after acquiring an additional 455,750 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Alcoa by 6.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,567,665 shares of the industrial products company’s stock valued at $151,834,000 after acquiring an additional 225,712 shares during the period.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on AA shares. BMO Capital Markets reduced their price target on shares of Alcoa from $33.00 to $30.00 and set a “market perform” rating for the company in a research report on Thursday, July 20th. Argus downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. StockNews.com started coverage on shares of Alcoa in a research report on Thursday, August 17th. They set a “sell” rating for the company. B. Riley reduced their price target on shares of Alcoa from $37.00 to $34.00 and set a “neutral” rating for the company in a research report on Friday, July 21st. Finally, JPMorgan Chase & Co. downgraded Alcoa from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $54.00 to $36.00 in a research report on Friday, July 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.82.
Alcoa Trading Down 5.7 %
AA stock traded down $1.72 during midday trading on Thursday, hitting $28.48. The stock had a trading volume of 5,359,280 shares, compared to its average volume of 5,149,878. The firm has a market cap of $5.08 billion, a PE ratio of -3.48 and a beta of 2.46. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 0.87. Alcoa Co. has a 12-month low of $27.76 and a 12-month high of $57.61. The company’s 50-day moving average price is $32.57 and its 200 day moving average price is $36.95.
Alcoa (NYSE:AA – Get Free Report) last released its earnings results on Wednesday, July 19th. The industrial products company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.59) by $0.24. The firm had revenue of $2.68 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Alcoa had a negative net margin of 13.37% and a negative return on equity of 4.36%. Alcoa’s revenue for the quarter was down 26.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.67 EPS. On average, equities research analysts predict that Alcoa Co. will post -1.25 earnings per share for the current fiscal year.
Alcoa Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Tuesday, August 8th were paid a $0.10 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.40 annualized dividend and a yield of 1.40%. Alcoa’s payout ratio is currently -4.90%.
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 three segments: Bauxite, 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.