Alcoa Co. (NYSE:AA) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its position in Alcoa Co. (NYSE:AA) by 64.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,567 shares of the industrial products company’s stock after selling 58,101 shares during the period. Edgestream Partners L.P.’s holdings in Alcoa were worth $1,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Douglas Lane & Associates LLC boosted its stake in shares of Alcoa by 12.9% in the first quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock worth $45,675,000 after acquiring an additional 154,403 shares during the last quarter. ARGA Investment Management LP lifted its position in Alcoa by 202.2% during the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after buying an additional 997,912 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Alcoa during the first quarter worth approximately $593,000. Cloverfields Capital Group LP purchased a new position in Alcoa during the fourth quarter worth approximately $865,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new position in Alcoa during the second quarter worth approximately $706,000. 82.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on AA shares. B. Riley lifted their price objective on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America reduced their target price on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Morgan Stanley reduced their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, B. Riley Financial restated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.45.

Alcoa Price Performance

AA stock opened at $33.83 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $45.48. The business’s fifty day moving average price is $32.61 and its 200 day moving average price is $35.61.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the firm posted ($0.35) EPS. Alcoa’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, sell-side analysts anticipate that Alcoa Co. will post 0.7 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.18%. Alcoa’s payout ratio is -10.64%.

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.