Two Sigma Advisers LP Has $25.65 Million Position in Alcoa Co. (NYSE:AA)

Two Sigma Advisers LP cut its stake in Alcoa Co. (NYSE:AA) by 49.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 678,864 shares of the industrial products company’s stock after selling 669,700 shares during the quarter. Two Sigma Advisers LP owned approximately 0.26% of Alcoa worth $25,647,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AA. HB Wealth Management LLC acquired a new position in shares of Alcoa during the 4th quarter worth approximately $211,000. UMB Bank n.a. boosted its stake in shares of Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after buying an additional 598 shares during the period. Ballentine Partners LLC boosted its stake in shares of Alcoa by 3.2% in the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock valued at $339,000 after buying an additional 279 shares during the period. Nisa Investment Advisors LLC grew its position in Alcoa by 12.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 18,642 shares of the industrial products company’s stock worth $704,000 after buying an additional 2,000 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in Alcoa during the 4th quarter worth $238,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Trading Down 2.1%

Alcoa stock opened at $28.79 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The stock has a market cap of $7.45 billion, a P/E ratio of -179.94, a PEG ratio of 0.19 and a beta of 2.29. The firm’s fifty day moving average price is $27.66 and its 200-day moving average price is $34.76.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Equities research analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, May 20th. Alcoa’s dividend payout ratio is currently 12.05%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Friday, April 18th. JPMorgan Chase & Co. reduced their price objective on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. B. Riley decreased their target price on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Morgan Stanley cut their price target on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, UBS Group reiterated a “neutral” rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

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.