Thrivent Financial for Lutherans Sells 24,441 Shares of Alcoa Co. (NYSE:AA)

Thrivent Financial for Lutherans reduced its position in shares of Alcoa Co. (NYSE:AA) by 1.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,291,581 shares of the industrial products company’s stock after selling 24,441 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Alcoa were worth $49,829,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after buying an additional 390,930 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa during the second quarter valued at approximately $93,061,000. L1 Capital Pty Ltd acquired a new position in Alcoa during the first quarter valued at approximately $72,658,000. Capital Research Global Investors boosted its position in Alcoa by 29.8% during the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after purchasing an additional 475,000 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Alcoa by 43.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock valued at $49,958,000 after purchasing an additional 444,393 shares during the last quarter.

Insiders Place Their Bets

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. This trade represents a 29.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Alcoa Price Performance

Shares of NYSE AA opened at $43.98 on Tuesday. The firm has a market cap of $11.36 billion, a P/E ratio of -24.99, a price-to-earnings-growth ratio of 0.84 and a beta of 2.42. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa Co. has a 1-year low of $23.80 and a 1-year high of $46.55. The business’s 50 day moving average is $39.24 and its 200-day moving average is $37.70.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.14) earnings per share. Equities research analysts predict that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Analysts Set New Price Targets

AA has been the subject of several recent research reports. UBS Group increased their price target on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. B. Riley Financial reissued a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Alcoa presently has an average rating of “Moderate Buy” and an average target price of $44.75.

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.