Commonwealth Equity Services LLC Reduces Position in Alcoa Co. (NYSE:AA)

Commonwealth Equity Services LLC trimmed its holdings in Alcoa Co. (NYSE:AA) by 8.9% during the fourth quarter, HoldingsChannel reports. The firm owned 82,150 shares of the industrial products company’s stock after selling 8,045 shares during the period. Commonwealth Equity Services LLC’s holdings in Alcoa were worth $3,104,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mountaineer Partners Management LLC grew its holdings in shares of Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after purchasing an additional 10,534,036 shares during the period. State Street Corp boosted its holdings in Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after purchasing an additional 1,805,915 shares during the last quarter. Paloma Partners Management Co grew its stake in shares of Alcoa by 11,317.8% in the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after buying an additional 1,415,294 shares during the period. Geode Capital Management LLC increased its holdings in shares of Alcoa by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after buying an additional 1,239,479 shares during the last quarter. Finally, ARGA Investment Management LP raised its position in shares of Alcoa by 29.6% during the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after buying an additional 684,505 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America increased their price objective on Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. HC Wainwright increased their price target on Alcoa to $90.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Morgan Stanley lowered their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, BMO Capital Markets boosted their price target on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alcoa has an average rating of “Moderate Buy” and a consensus target price of $50.17.

Alcoa Price Performance

Shares of AA opened at $33.66 on Wednesday. The company has a market cap of $8.71 billion, a P/E ratio of -210.38, a PEG ratio of 0.19 and a beta of 2.55. Alcoa Co. has a fifty-two week low of $27.12 and a fifty-two week high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average price is $35.16 and its 200 day moving average price is $38.12.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, research analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Tuesday, March 4th. Alcoa’s dividend payout ratio is currently -250.00%.

Alcoa Profile

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.