Ameritas Investment Partners Inc. Has $2.30 Million Stock Holdings in Alcoa Co. (NYSE:AA)

Ameritas Investment Partners Inc. decreased its stake in Alcoa Co. (NYSE:AA) by 2.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 57,892 shares of the industrial products company’s stock after selling 1,214 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Alcoa were worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AA. ANTIPODES PARTNERS Ltd acquired a new stake in Alcoa during the 2nd quarter valued at $93,061,000. L1 Capital Pty Ltd purchased a new stake in Alcoa in the 1st quarter worth about $72,658,000. Norges Bank acquired a new stake in Alcoa during the 4th quarter worth about $45,730,000. ARGA Investment Management LP grew its stake in Alcoa by 202.2% during the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after acquiring an additional 997,912 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after purchasing an additional 475,000 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Trading Down 3.1 %

NYSE:AA opened at $33.83 on Friday. 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’s 50 day moving average is $32.51 and its 200-day moving average is $35.71. The firm has a market cap of $6.07 billion, a price-to-earnings 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.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates 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 revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. Equities analysts anticipate that Alcoa Co. will post 0.7 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is currently -10.64%.

Analysts Set New Price Targets

A number of brokerages recently commented on AA. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report 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 on the stock in a research note on Monday, July 22nd. UBS Group lifted their price objective on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com lowered Alcoa from a “hold” rating to a “sell” rating in a research report on Friday. Finally, B. Riley Financial reiterated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.45.

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.