Pekin Hardy Strauss Inc. Has $475,000 Holdings in Alcoa Co. (NYSE:AA)

Pekin Hardy Strauss Inc. decreased its position in shares of Alcoa Co. (NYSE:AA) by 37.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,961 shares of the industrial products company’s stock after selling 8,276 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Alcoa were worth $475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AA. Raymond James & Associates increased its position in Alcoa by 3,731.1% in the 4th quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock valued at $27,190,000 after acquiring an additional 778,831 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Alcoa by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock worth $35,874,000 after purchasing an additional 54,876 shares during the last quarter. Nordea Investment Management AB increased its holdings in Alcoa by 132.2% in the fourth quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock valued at $3,824,000 after purchasing an additional 63,816 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in Alcoa during the 4th quarter worth $227,000. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Alcoa by 90.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 61,801 shares of the industrial products company’s stock worth $1,796,000 after buying an additional 29,431 shares during the period.

Wall Street Analyst Weigh In

AA has been the subject of several recent research reports. B. Riley increased their price target on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Thursday, January 18th. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. UBS Group increased their price objective on shares of Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, April 19th. Finally, Morgan Stanley upgraded shares of Alcoa from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $28.50 to $36.50 in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.54.

Insiders Place Their Bets

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

Alcoa Stock Performance

AA opened at $35.13 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 1.61. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $38.20. The company’s fifty day moving average price is $32.26 and its two-hundred day moving average price is $29.47.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) earnings per share. As a group, equities research analysts expect that Alcoa Co. will post 0.2 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, March 4th. Alcoa’s payout ratio is -10.64%.

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.