Alcoa (NYSE:AA) Shares Sold by Swiss National Bank

Swiss National Bank lowered its position in shares of Alcoa (NYSE:AA) by 1.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 500,513 shares of the industrial products company’s stock after selling 7,600 shares during the quarter. Swiss National Bank owned approximately 0.19% of Alcoa worth $15,266,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sourcerock Group LLC increased its holdings in shares of Alcoa by 319.1% in the fourth quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company’s stock valued at $74,729,000 after purchasing an additional 1,506,009 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Alcoa by 46.8% in the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company’s stock valued at $96,324,000 after purchasing an additional 813,214 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Alcoa by 481.2% in the first quarter. Deutsche Bank AG now owns 907,117 shares of the industrial products company’s stock valued at $27,667,000 after purchasing an additional 751,053 shares during the last quarter. Wellington Management Group LLP increased its stake in Alcoa by 488.2% during the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company’s stock worth $30,320,000 after acquiring an additional 666,117 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in Alcoa by 536.9% during the fourth quarter. Mackenzie Financial Corp now owns 645,140 shares of the industrial products company’s stock worth $24,373,000 after acquiring an additional 543,853 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays raised their target price on Alcoa to $31.00 and gave the stock a “hold” rating in a research note on Friday, May 16th. B. Riley cut their target price on Alcoa from $38.00 to $37.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Bank of America raised their target price on Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research note on Thursday, July 17th. Citigroup raised Alcoa to a “buy” rating and set a $42.00 target price for the company in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lowered their price target on Alcoa from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.23.

Alcoa Trading Up 1.1%

NYSE:AA opened at $31.73 on Thursday. The firm has a market cap of $8.21 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 0.18 and a beta of 2.24. The stock has a fifty day moving average price of $29.76 and a 200 day moving average price of $30.01. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%. Alcoa’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business posted $0.16 earnings per share. Sell-side analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. Alcoa’s dividend payout ratio (DPR) is 10.44%.

Alcoa Company 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.