Deutsche Bank AG Cuts Stock Holdings in Alcoa Co. (NYSE:AA)

Deutsche Bank AG lessened its stake in Alcoa Co. (NYSE:AA) by 54.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,064 shares of the industrial products company’s stock after selling 185,386 shares during the period. Deutsche Bank AG owned approximately 0.06% of Alcoa worth $5,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AA. Bessemer Group Inc. lifted its holdings in shares of 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 acquiring an additional 296 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Alcoa during the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC lifted its stake in Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 393 shares during the last quarter. UMB Bank n.a. boosted its holdings in Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 598 shares during the period. Finally, IMG Wealth Management Inc. bought a new position in shares of Alcoa in the fourth quarter worth approximately $73,000. Institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Bank of America reaffirmed an “underperform” rating and set a $26.00 price objective (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Barclays raised their target price on Alcoa to $31.00 and gave the stock a “hold” rating in a research note on Friday. UBS Group reaffirmed a “neutral” rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday. Finally, B. Riley dropped their price objective on Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M One analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.08.

Alcoa Trading Up 2.9%

AA opened at $29.51 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 52 week low of $21.53 and a 52 week high of $47.77. The stock has a market cap of $7.64 billion, a PE ratio of -184.42, a PEG ratio of 0.19 and a beta of 2.29. The business has a 50 day moving average of $27.80 and a 200-day moving average of $34.88.

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

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.36%. Alcoa’s payout ratio is 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.