SG Americas Securities LLC Cuts Stock Holdings in Alcoa Co. (NYSE:AA)

SG Americas Securities LLC lowered its position in shares of Alcoa Co. (NYSE:AA) by 57.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,264 shares of the industrial products company’s stock after selling 60,122 shares during the quarter. SG Americas Securities LLC’s holdings in Alcoa were worth $1,746,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp raised its stake in Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Alcoa by 1.4% in the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock valued at $1,073,000 after buying an additional 368 shares during the last quarter. Diversified Trust Co lifted its stake in shares of Alcoa by 5.7% in the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after buying an additional 416 shares in the last quarter. CWM LLC boosted its position in Alcoa by 19.5% during the second quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock worth $145,000 after acquiring an additional 596 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Alcoa during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

NYSE:AA opened at $37.73 on Wednesday. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a fifty day simple moving average of $33.29 and a two-hundred day simple moving average of $36.41. 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 $6.77 billion, a price-to-earnings ratio of -10.03 and a beta of 2.42.

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. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm earned ($0.35) earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Alcoa Co. will post 0.56 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.06%. Alcoa’s payout ratio is currently -10.64%.

Analyst Ratings Changes

AA has been the topic of several recent research reports. B. Riley boosted their target price on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Morgan Stanley lowered their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. started coverage on Alcoa in a report on Wednesday, September 25th. They set a “neutral” rating and a $36.00 price target on the stock. Wolfe Research raised 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 report on Wednesday, September 4th. Finally, UBS Group raised their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.64.

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.