Sigma Planning Corp Acquires Shares of 22,913 Alcoa $AA

Sigma Planning Corp bought a new stake in shares of Alcoa (NYSE:AA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,913 shares of the industrial products company’s stock, valued at approximately $1,195,000.

Several other large investors also recently modified their holdings of AA. BlackRock Inc. acquired a new stake in Alcoa during the second quarter worth about $1,528,523,000. Dimensional Fund Advisors LP boosted its position in shares of Alcoa by 4.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company’s stock worth $615,428,000 after acquiring an additional 462,243 shares in the last quarter. State Street Corp increased its stake in Alcoa by 6.7% in the third quarter. State Street Corp now owns 11,458,529 shares of the industrial products company’s stock valued at $376,871,000 after acquiring an additional 721,063 shares during the last quarter. Geode Capital Management LLC increased its stake in Alcoa by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company’s stock valued at $389,621,000 after acquiring an additional 349,426 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Alcoa by 211.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company’s stock valued at $332,338,000 after purchasing an additional 4,247,559 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AA. Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Royal Bank Of Canada set a $70.00 price target on Alcoa in a report on Wednesday, July 1st. Zacks Research downgraded Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. Bank of America reduced their price objective on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research note on Thursday, July 9th. Finally, Wells Fargo & Company decreased their target price on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.09.

Alcoa Stock Down 0.5%

NYSE:AA opened at $50.05 on Tuesday. The firm’s 50 day simple moving average is $48.86 and its 200 day simple moving average is $59.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. Alcoa has a one year low of $30.21 and a one year high of $84.38. The company has a market cap of $13.21 billion, a PE ratio of 10.30, a P/E/G ratio of 0.57 and a beta of 1.63.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the previous year, the firm earned $0.39 earnings per share. On average, research analysts anticipate that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, August 11th. Alcoa’s dividend payout ratio is presently 8.23%.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 15,628 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the transaction, the executive vice president directly owned 39,819 shares of the company’s stock, valued at $2,014,841.40. This trade represents a 28.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

About Alcoa

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.