Truist Financial Corp Reduces Holdings in Alcoa Co. (NYSE:AA)

Truist Financial Corp decreased its stake in shares of Alcoa Co. (NYSE:AA) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,474 shares of the industrial products company’s stock after selling 570 shares during the period. Truist Financial Corp’s holdings in Alcoa were worth $320,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP bought a new position in Alcoa in the third quarter worth $43,000. Continuum Advisory LLC grew its position in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,070 shares during the period. UMB Bank n.a. increased its stake in shares of Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 598 shares in the last quarter. GAMMA Investing LLC lifted its position in Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 1,157 shares during the period. Finally, Millburn Ridgefield Corp bought a new stake in Alcoa during the third quarter worth about $89,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

AA has been the subject of a number of analyst reports. Jefferies Financial Group decreased their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley cut their price target on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price objective on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. B. Riley raised Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, BMO Capital Markets raised their price target on Alcoa to $43.00 and gave the company a “hold” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and a consensus target price of $46.55.

Alcoa Trading Up 3.9 %

Shares of NYSE:AA opened at $32.38 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. Alcoa Co. has a 1 year low of $26.90 and a 1 year high of $47.77. The company has a market cap of $8.38 billion, a P/E ratio of -202.34, a PEG ratio of 0.19 and a beta of 2.43. The stock’s fifty day moving average price is $36.26 and its 200-day moving average price is $38.01.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Sell-side analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

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.