Handelsinvest Investeringsforvaltning Sells 2,861 Shares of Alcoa Co. (NYSE:AA)

Handelsinvest Investeringsforvaltning lessened its position in shares of Alcoa Co. (NYSE:AA) by 34.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,512 shares of the industrial products company’s stock after selling 2,861 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Alcoa were worth $186,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AA. Mariner LLC increased its position in Alcoa by 3.6% during the 3rd quarter. Mariner LLC now owns 32,193 shares of the industrial products company’s stock worth $935,000 after purchasing an additional 1,116 shares in the last quarter. Teza Capital Management LLC acquired a new position in Alcoa in the 3rd quarter valued at approximately $363,000. Advisors Asset Management Inc. increased its position in 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. Lido Advisors LLC increased its position in Alcoa by 18.1% in the 3rd quarter. Lido Advisors LLC now owns 25,830 shares of the industrial products company’s stock valued at $751,000 after acquiring an additional 3,957 shares during the period. Finally, Seven Eight Capital LP increased its position in Alcoa by 37.8% in the 3rd quarter. Seven Eight Capital LP now owns 9,890 shares of the industrial products company’s stock valued at $287,000 after acquiring an additional 2,711 shares during the period. Institutional investors own 82.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Jefferies Financial Group increased their price objective on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Citigroup increased their price objective on shares of Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. B. Riley increased their price objective on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets increased their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Alcoa has a consensus rating of “Hold” and an average price target of $37.33.

Alcoa Trading Up 3.8 %

Shares of AA stock opened at $42.38 on Thursday. The company’s fifty day simple moving average is $39.84 and its two-hundred day simple moving average is $34.13. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $45.48. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of -11.27 and a beta of 2.45.

Alcoa (NYSE:AA) last released its quarterly earnings results 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 firm had revenue of $2.60 billion during 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 for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) EPS. As a group, analysts anticipate that Alcoa Co. will post 1.23 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. Alcoa’s payout ratio is currently -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.