Stifel Financial Corp Reduces Stock Position in Alcoa Co. (NYSE:AA)

Stifel Financial Corp trimmed its position in Alcoa Co. (NYSE:AA) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,171 shares of the industrial products company’s stock after selling 1,816 shares during the period. Stifel Financial Corp’s holdings in Alcoa were worth $2,283,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. ING Groep NV purchased a new stake in shares of Alcoa in the third quarter valued at $10,201,000. Douglas Lane & Associates LLC grew its holdings in Alcoa by 2.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after buying an additional 27,217 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Alcoa by 6.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock valued at $24,233,000 after acquiring an additional 36,869 shares during the last quarter. Aigen Investment Management LP increased its stake in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after acquiring an additional 15,546 shares during the last quarter. Finally, Mountaineer Partners Management LLC lifted its holdings in shares of Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AA shares. BMO Capital Markets boosted their target price on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. UBS Group boosted their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Alcoa currently has an average rating of “Moderate Buy” and a consensus target price of $46.73.

Alcoa Stock Down 2.9 %

Shares of NYSE:AA opened at $37.31 on Thursday. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of -21.20, a price-to-earnings-growth ratio of 0.79 and a beta of 2.44. The company has a 50 day moving average of $42.62 and a two-hundred day moving average of $38.17. Alcoa Co. has a 52-week low of $24.86 and a 52-week high of $47.77. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the business earned ($1.14) EPS. The business’s revenue was up 11.6% on a year-over-year basis. As a group, analysts forecast that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 1.07%. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Insider Buying and Selling at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.08% of the stock is owned by insiders.

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.