Thrivent Financial for Lutherans Has $52.35 Million Holdings in Alcoa Co. (NYSE:AA)

Thrivent Financial for Lutherans cut its position in Alcoa Co. (NYSE:AA) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,316,022 shares of the industrial products company’s stock after selling 49,227 shares during the period. Thrivent Financial for Lutherans owned 0.73% of Alcoa worth $52,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after purchasing an additional 368 shares in the last quarter. Diversified Trust Co lifted its position in shares of Alcoa by 5.7% during the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 416 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Alcoa by 56.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Alcoa by 19.5% during the second quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock worth $145,000 after purchasing an additional 596 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AA. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Friday. B. Riley Financial reissued a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research note on Wednesday, September 4th. Morgan Stanley dropped their price target on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group boosted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Alcoa presently has an average rating of “Hold” and a consensus target price of $40.45.

Alcoa Stock Down 3.1 %

Alcoa stock opened at $33.83 on Monday. The stock has a market capitalization of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $32.51 and a 200-day moving average of $35.77.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.35) earnings per share. On average, equities research analysts anticipate that Alcoa Co. will post 0.7 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -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.