Eads & Heald Wealth Management Sells 6,685 Shares of Alcoa Co. (NYSE:AA)

Eads & Heald Wealth Management lessened its holdings in Alcoa Co. (NYSE:AA) by 42.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,969 shares of the industrial products company’s stock after selling 6,685 shares during the period. Eads & Heald Wealth Management’s holdings in Alcoa were worth $305,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AA. Moors & Cabot Inc. grew its holdings in shares of Alcoa by 2.2% during the first quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 185 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Alcoa by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock worth $2,206,000 after purchasing an additional 284 shares during the last quarter. State of Wisconsin Investment Board lifted its stake in shares of Alcoa by 0.4% in the fourth quarter. State of Wisconsin Investment Board now owns 90,102 shares of the industrial products company’s stock worth $4,097,000 after acquiring an additional 317 shares during the period. Fairfield Bush & CO. acquired a new position in shares of Alcoa in the first quarter worth approximately $29,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Alcoa by 3.2% in the second quarter. Envestnet Asset Management Inc. now owns 11,916 shares of the industrial products company’s stock worth $404,000 after acquiring an additional 369 shares during the period.

Insider Activity at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research note on Thursday, January 18th. Bank of America lifted their price objective on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. UBS Group assumed coverage on Alcoa in a research note on Tuesday, January 16th. They issued a “sell” rating and a $29.00 price objective on the stock. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, BMO Capital Markets dropped their price target on Alcoa from $30.00 to $29.00 and set a “market perform” rating on the stock in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.88.

Alcoa Price Performance

Alcoa stock traded down $1.20 during trading on Tuesday, hitting $35.37. 1,677,985 shares of the company were exchanged, compared to its average volume of 6,203,857. The business’s 50 day moving average is $30.48 and its 200 day moving average is $28.88. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $42.23. The company has a current ratio of 1.45, a quick ratio of 0.74 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) EPS for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.29. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. Alcoa’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.70) EPS. As a group, equities analysts expect that Alcoa Co. will post 0.31 EPS for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s payout ratio is currently -10.96%.

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 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.