Fisher Asset Management LLC Sells 464,170 Shares of Alcoa Co. (NYSE:AA)

Fisher Asset Management LLC reduced its position in Alcoa Co. (NYSE:AA) by 16.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,349,845 shares of the industrial products company’s stock after selling 464,170 shares during the period. Fisher Asset Management LLC owned about 1.31% of Alcoa worth $79,895,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Daiwa Securities Group Inc. boosted its stake in shares of Alcoa by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock worth $900,000 after acquiring an additional 338 shares during the period. Quent Capital LLC boosted its stake in shares of Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 387 shares during the period. Yousif Capital Management LLC boosted its stake in shares of Alcoa by 0.7% during the 4th quarter. Yousif Capital Management LLC now owns 87,960 shares of the industrial products company’s stock worth $2,991,000 after acquiring an additional 574 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 576 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in shares of Alcoa by 8.8% during the 4th quarter. Apollon Wealth Management LLC now owns 7,758 shares of the industrial products company’s stock worth $264,000 after acquiring an additional 628 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AA. UBS Group lifted their price target on Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, April 19th. BMO Capital Markets lifted their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a report on Friday, April 19th. B. Riley lifted their price target on Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Finally, Bank of America lifted their price objective on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $35.04.

Alcoa Stock Performance

Shares of AA stock opened at $37.90 on Monday. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 1.61. The stock’s fifty day simple moving average is $38.95 and its 200 day simple moving average is $32.99.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.23) EPS. On average, sell-side analysts predict that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.06%. Alcoa’s dividend payout ratio is currently -10.64%.

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.