Mutual of America Capital Management LLC Sells 3,536 Shares of Alcoa Co. (NYSE:AA)

Mutual of America Capital Management LLC lowered its position in Alcoa Co. (NYSE:AA) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 102,807 shares of the industrial products company’s stock after selling 3,536 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Alcoa worth $4,090,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AA. ANTIPODES PARTNERS Ltd bought a new position in Alcoa in the 2nd quarter worth $93,061,000. L1 Capital Pty Ltd purchased a new stake in Alcoa in the 1st quarter worth $72,658,000. Norges Bank purchased a new stake in Alcoa in the 4th quarter worth $45,730,000. ARGA Investment Management LP lifted its stake in Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after purchasing an additional 997,912 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in 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 worth $69,869,000 after purchasing an additional 475,000 shares in the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of NYSE:AA opened at $33.83 on Monday. The company has a market capitalization 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. The firm’s 50-day moving average is $32.51 and its 200 day moving average is $35.77. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.35) EPS. Research analysts predict that Alcoa Co. will post 0.7 EPS for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued 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%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Wednesday, September 4th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Morgan Stanley decreased 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. Bank of America decreased their target price 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. Finally, B. Riley upped their target price on shares of Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and an average target price of $40.45.

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.