Alcoa Co. (NYSE:AA) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its position in Alcoa Co. (NYSE:AA) by 4.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,131 shares of the industrial products company’s stock after selling 874 shares during the quarter. New York Life Investment Management LLC’s holdings in Alcoa were worth $684,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of Alcoa by 7.4% in the third quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock worth $93,457,000 after buying an additional 222,884 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Alcoa in the 3rd quarter valued at about $39,557,000. Charles Schwab Investment Management Inc. lifted its position in 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 valued at $35,874,000 after buying an additional 54,876 shares during the last quarter. Douglas Lane & Associates LLC increased its position in shares of Alcoa by 16.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 1,197,317 shares of the industrial products company’s stock valued at $40,709,000 after acquiring an additional 173,367 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alcoa by 9.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 939,128 shares of the industrial products company’s stock valued at $27,291,000 after acquiring an additional 80,916 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. B. Riley boosted their target price on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday, April 18th. BMO Capital Markets raised their target price on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Morgan Stanley upgraded shares of Alcoa from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $28.50 to $36.50 in a research note on Monday, April 22nd. Finally, UBS Group upped their target price on shares of Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and an average target price of $33.54.

Insider Buying and Selling at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the sale, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.08% of the company’s stock.

Alcoa Price Performance

AA stock opened at $36.64 on Thursday. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $6.58 billion, a P/E ratio of -9.74, a PEG ratio of 3.77 and a beta of 2.45. The business has a 50 day simple moving average of $33.59 and a 200-day simple moving average of $29.95. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $38.20.

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

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.09%. 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.