Alcoa $AA Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its holdings in Alcoa (NYSE:AA) by 59.5% in the fourth quarter, Holdings Channel reports. The fund owned 211,873 shares of the industrial products company’s stock after selling 311,195 shares during the period. Hsbc Holdings PLC’s holdings in Alcoa were worth $11,305,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of AA. NewEdge Advisors LLC lifted its position in Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after buying an additional 10,727 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Alcoa by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after buying an additional 4,624 shares during the period. Invesco Ltd. lifted its holdings in Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after acquiring an additional 12,008 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Alcoa by 173.8% during the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after acquiring an additional 1,295 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Alcoa by 320.1% during the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after acquiring an additional 205,717 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AA shares. BMO Capital Markets lifted their price target on shares of Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Wall Street Zen cut Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Wells Fargo & Company reduced their target price on shares of Alcoa from $82.00 to $71.00 and set an “overweight” rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.80.

Alcoa Stock Up 1.2%

Shares of NYSE:AA opened at $52.91 on Friday. Alcoa has a fifty-two week low of $27.72 and a fifty-two week high of $84.38. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $66.95 and its 200-day simple moving average is $62.52. The company has a market cap of $13.96 billion, a price-to-earnings ratio of 13.40 and a beta of 1.56.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. Alcoa’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.15 EPS. As a group, equities research analysts predict that Alcoa will post 8.48 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 5th. Shareholders 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 dividend on an annualized basis and a yield of 0.8%. Alcoa’s dividend payout ratio (DPR) is 10.13%.

Alcoa 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.