Amalgamated Bank Sells 30,900 Shares of Alcoa Co. (NYSE:AA)

Amalgamated Bank cut its holdings in shares of Alcoa Co. (NYSE:AA) by 25.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,832 shares of the industrial products company’s stock after selling 30,900 shares during the period. Amalgamated Bank owned approximately 0.05% of Alcoa worth $3,613,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its holdings in Alcoa by 4.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 37,158 shares of the industrial products company’s stock worth $1,263,000 after purchasing an additional 1,676 shares in the last quarter. Quadrant Capital Group LLC raised its position in Alcoa by 56.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after buying an additional 576 shares during the last quarter. Norges Bank bought a new position in Alcoa during the 4th quarter valued at $45,730,000. D.A. Davidson & CO. bought a new position in Alcoa during the 4th quarter valued at $246,000. Finally, Quest Partners LLC purchased a new position in Alcoa during the 4th quarter worth $40,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. B. Riley Financial restated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research note on Tuesday, September 17th. Morgan Stanley decreased their price target on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. Finally, B. Riley upped their price objective on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.45.

Alcoa Price Performance

NYSE AA opened at $33.83 on Monday. The company has a market cap of $6.07 billion, a PE ratio of -9.00 and a beta of 2.42. 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 firm’s 50-day simple moving average is $32.51 and its two-hundred day simple moving average is $35.77. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $45.48.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the company posted ($0.35) EPS. Alcoa’s revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Alcoa Co. will post 0.7 earnings per share for the current 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 given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -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.