Alcoa $AA Shares Sold by Cloverfields Capital Group LP

Cloverfields Capital Group LP lowered its position in shares of Alcoa (NYSE:AA) by 43.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,799 shares of the industrial products company’s stock after selling 12,176 shares during the period. Cloverfields Capital Group LP’s holdings in Alcoa were worth $840,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basepoint Wealth LLC acquired a new position in shares of Alcoa during the fourth quarter worth about $25,000. Advisory Services Network LLC purchased a new position in shares of Alcoa during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. lifted its stake in shares of Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after buying an additional 525 shares during the period. CoreCap Advisors LLC lifted its stake in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after buying an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the period.

Analysts Set New Price Targets

AA has been the topic of a number of recent analyst reports. Argus set a $73.00 price target on shares of Alcoa in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the company from $75.00 to $80.00 in a research note on Friday, May 22nd. Finally, Weiss Ratings downgraded shares of Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Alcoa currently has an average rating of “Hold” and a consensus price target of $68.50.

Alcoa Stock Performance

Alcoa stock opened at $68.69 on Friday. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 17.39 and a beta of 1.56. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88. Alcoa has a 12-month low of $27.72 and a 12-month high of $84.38. The firm’s fifty day moving average price is $69.43 and its 200 day moving average price is $61.33.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the business earned $2.15 earnings per share. Alcoa’s revenue was down 5.2% on a year-over-year basis. On average, research analysts forecast that Alcoa will post 7.89 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s payout ratio is 10.13%.

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.