Wellington Management Group LLP Sells 4,761 Shares of Alcoa Co. (NYSE:AA)

Wellington Management Group LLP lowered its holdings in Alcoa Co. (NYSE:AA) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,834 shares of the industrial products company’s stock after selling 4,761 shares during the period. Wellington Management Group LLP owned about 0.08% of Alcoa worth $5,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC raised its holdings 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 worth $377,000 after acquiring an additional 3,113 shares in the last quarter. Mariner LLC raised its position in 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. Teza Capital Management LLC acquired a new stake in Alcoa in the third quarter valued at $363,000. United Services Automobile Association grew its position in shares of Alcoa by 10.2% in the 3rd quarter. United Services Automobile Association now owns 12,573 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 1,167 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Alcoa by 4.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 29,382 shares of the industrial products company’s stock valued at $854,000 after acquiring an additional 1,299 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. B. Riley raised 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. Jefferies Financial Group raised their price objective on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Citigroup boosted their target price on Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $36.50 to $50.00 in a report on Friday, June 21st. Finally, UBS Group upped their price objective on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $37.33.

Alcoa Stock Up 2.5 %

Shares of AA opened at $39.78 on Friday. 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 12 month low of $23.07 and a 12 month high of $45.48. The firm’s 50 day moving average is $39.55 and its 200-day moving average is $33.87. The stock has a market capitalization of $7.14 billion, a PE ratio of -10.58 and a beta of 2.46.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. Alcoa’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.23) earnings per share. Equities research analysts forecast that Alcoa Co. will post 0.85 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Tuesday, May 21st were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.01%. Alcoa’s payout ratio is -10.64%.

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.