Masters Capital Management LLC Sells 955,000 Shares of Alcoa Co. (NYSE:AA)

Masters Capital Management LLC trimmed its holdings in shares of Alcoa Co. (NYSE:AA) by 50.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 945,000 shares of the industrial products company’s stock after selling 955,000 shares during the period. Alcoa comprises approximately 2.1% of Masters Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. Masters Capital Management LLC owned 0.53% of Alcoa worth $37,592,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in shares of Alcoa in the fourth quarter valued at approximately $39,000. Quest Partners LLC purchased a new stake in Alcoa during the 4th quarter worth about $40,000. Quadrant Capital Group LLC boosted its stake 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 worth $55,000 after purchasing an additional 576 shares during the period. Toronto Dominion Bank grew its holdings in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,592 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after buying an additional 309 shares during the period. Institutional investors own 82.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on AA shares. Morgan Stanley reduced their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. UBS Group boosted their target price on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Bank of America lowered their price target on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. StockNews.com cut shares of 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 target price on shares of Alcoa in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and a consensus price target of $40.45.

Alcoa Stock Up 1.1 %

Shares of NYSE AA opened at $34.21 on Tuesday. The firm’s fifty day moving average is $32.40 and its 200 day moving average is $35.80. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $45.48. 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 has a market cap of $6.14 billion, a price-to-earnings ratio of -9.10 and a beta of 2.42.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 7.29% and a negative net margin of 5.14%. Alcoa’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.35) EPS. On average, equities research analysts expect that Alcoa Co. will post 0.7 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.17%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

About Alcoa

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.