Vanguard Group Inc. Has $610.61 Million Position in Alcoa Co. (NYSE:AA)

Vanguard Group Inc. lessened its holdings in Alcoa Co. (NYSE:AA) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,959,035 shares of the industrial products company’s stock after selling 28,910 shares during the period. Vanguard Group Inc. owned about 10.00% of Alcoa worth $610,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kestra Advisory Services LLC grew its position in Alcoa by 31.5% during the third quarter. Kestra Advisory Services LLC now owns 12,989 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 3,113 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Alcoa by 7.4% during the 3rd quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock valued at $93,457,000 after acquiring an additional 222,884 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Alcoa by 65.7% in the third quarter. Hsbc Holdings PLC now owns 468,394 shares of the industrial products company’s stock worth $13,704,000 after acquiring an additional 185,731 shares during the last quarter. Mariner LLC raised its holdings in shares of Alcoa by 3.6% during the third quarter. Mariner LLC now owns 32,193 shares of the industrial products company’s stock worth $935,000 after acquiring an additional 1,116 shares in the last quarter. Finally, Teza Capital Management LLC acquired a new stake in Alcoa during the third quarter valued at $363,000.

Alcoa Trading Up 3.6 %

Shares of AA stock opened at $40.40 on Monday. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 0.45. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $45.48. The firm’s fifty day simple moving average is $39.17 and its 200 day simple moving average is $33.41. The firm has a market capitalization of $7.25 billion, a P/E ratio of -10.74 and a beta of 2.46.

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

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Monday, May 20th. Alcoa’s payout ratio is presently -10.64%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. B. Riley lifted their target price on shares of Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. Bank of America increased their price target on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Citigroup lifted their price objective on shares of Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Finally, Morgan Stanley raised shares of Alcoa from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $36.50 to $50.00 in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.17.

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.