Atom Investors LP Sells 22,056 Shares of Alcoa $AA

Atom Investors LP decreased its position in Alcoa (NYSE:AA) by 12.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 155,253 shares of the industrial products company’s stock after selling 22,056 shares during the quarter. Alcoa comprises 0.7% of Atom Investors LP’s investment portfolio, making the stock its 26th biggest position. Atom Investors LP’s holdings in Alcoa were worth $8,250,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AA. NewEdge Advisors LLC increased its stake in Alcoa by 1,098.0% in the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Alcoa by 0.7% in 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 worth $19,722,000 after acquiring an additional 4,624 shares during the last quarter. Invesco Ltd. increased its stake in Alcoa by 1.9% in the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $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% in the 2nd 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% in the 2nd 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.

Analysts Set New Price Targets

A number of research firms have issued reports on AA. BMO Capital Markets lifted their price objective on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, April 9th. Wells Fargo & Company set a $68.00 price objective on Alcoa in a research note on Thursday, March 12th. Morgan Stanley set a $79.00 price objective on Alcoa in a research note on Thursday, June 11th. Citigroup boosted their price objective on Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Finally, B. Riley Financial boosted their price objective on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Five 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 MarketBeat.com, Alcoa currently has an average rating of “Hold” and a consensus price target of $68.50.

Alcoa Trading Down 2.0%

AA opened at $62.88 on Wednesday. The stock has a market cap of $16.59 billion, a price-to-earnings ratio of 15.92 and a beta of 1.56. The stock’s 50 day moving average price is $69.11 and its 200-day moving average price is $61.82. Alcoa has a one year low of $27.72 and a one year high of $84.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48.

Alcoa (NYSE:AA) last released its earnings results 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 business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.15 EPS. On average, equities analysts forecast that Alcoa will post 7.89 EPS for the current year.

Alcoa Dividend Announcement

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