Envestnet Asset Management Inc. Cuts Stock Holdings in Alcoa Co. (NYSE:AA)

Envestnet Asset Management Inc. lessened its holdings in Alcoa Co. (NYSE:AA) by 32.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 20,118 shares of the industrial products company’s stock after selling 9,727 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alcoa were worth $760,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new stake in shares of Alcoa in the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC grew its holdings in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 393 shares during the period. UMB Bank n.a. increased its stake in Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 598 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Alcoa by 399.0% in the fourth quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after buying an additional 1,157 shares in the last quarter. Finally, IMG Wealth Management Inc. purchased a new position in shares of Alcoa in the fourth quarter valued at $73,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AA shares. Jefferies Financial Group lowered their price objective on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. UBS Group reduced their target price on Alcoa from $47.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, April 17th. Finally, Bank of America reaffirmed an “underperform” rating and set a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.17.

Alcoa Stock Up 4.3 %

AA opened at $25.59 on Friday. Alcoa Co. has a 12 month low of $21.53 and a 12 month high of $47.77. The business has a 50-day moving average of $28.87 and a two-hundred day moving average of $35.95. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of -159.94, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.42. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is currently 12.05%.

Alcoa Company 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.