Two Sigma Investments LP Sells 899,642 Shares of Alcoa Co. (NYSE:AA)

Two Sigma Investments LP reduced its stake in shares of Alcoa Co. (NYSE:AA) by 49.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 920,411 shares of the industrial products company’s stock after selling 899,642 shares during the quarter. Two Sigma Investments LP’s holdings in Alcoa were worth $34,773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. grew its holdings in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 296 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Alcoa during the 4th quarter valued at about $29,000. Point72 Hong Kong Ltd acquired a new position in Alcoa in the fourth quarter valued at about $36,000. Smartleaf Asset Management LLC grew its stake in Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after buying an additional 393 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after buying an additional 598 shares during the last quarter. 82.39% of the stock is owned by institutional investors.

Alcoa Trading Down 2.1%

Shares of AA opened at $28.79 on Wednesday. The stock’s fifty day simple moving average is $27.66 and its 200-day simple moving average is $34.76. The firm has a market capitalization of $7.45 billion, a PE ratio of -179.94, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. Alcoa Co. has a 12-month low of $21.53 and a 12-month high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

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

Alcoa Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. UBS Group reiterated a “neutral” rating and issued a $31.00 target price on shares of Alcoa in a research note on Thursday, May 15th. Barclays raised their price target on Alcoa to $31.00 and gave the company a “hold” rating in a report on Friday, May 16th. Bank of America reissued an “underperform” rating and issued a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Morgan Stanley decreased their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, HC Wainwright raised their target price on Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.08.

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.