Ameriprise Financial Inc. Cuts Stock Position in Alcoa Co. (NYSE:AA)

Ameriprise Financial Inc. decreased its holdings in shares of Alcoa Co. (NYSE:AA) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 312,128 shares of the industrial products company’s stock after selling 1,985 shares during the period. Ameriprise Financial Inc.’s holdings in Alcoa were worth $11,785,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC raised its stake in shares of Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 279 shares during the period. Bessemer Group Inc. increased its stake in Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after buying an additional 296 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Alcoa by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 300 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Alcoa by 5.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after buying an additional 328 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after buying an additional 393 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AA. Barclays lifted their target price on Alcoa to $31.00 and gave the stock a “hold” rating in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Morgan Stanley cut their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. HC Wainwright raised their price target on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Finally, B. Riley cut their price target on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $43.08.

Alcoa Stock Performance

Alcoa stock opened at $29.51 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. Alcoa Co. has a 12 month low of $21.53 and a 12 month high of $47.77. The company has a fifty day moving average price of $27.80 and a two-hundred day moving average price of $34.88. The company has a market cap of $7.64 billion, a PE ratio of -184.42, a P/E/G ratio of 0.19 and a beta of 2.29.

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

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Tuesday, May 20th. Alcoa’s dividend payout ratio (DPR) is presently 12.05%.

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.