Commonwealth Equity Services LLC decreased its position in shares of Alcoa (NYSE:AA – Free Report) by 19.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,433 shares of the industrial products company’s stock after selling 15,034 shares during the period. Commonwealth Equity Services LLC’s holdings in Alcoa were worth $3,211,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Basepoint Wealth LLC acquired a new stake in shares of Alcoa during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. boosted its position in shares of Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 525 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 237 shares in the last quarter. Clearstead Trust LLC boosted its position in shares of Alcoa by 431.7% during the 4th quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 613 shares in the last quarter. Finally, Hilltop National Bank acquired a new stake in shares of Alcoa during the 4th quarter worth approximately $40,000.
Analyst Ratings Changes
Several equities analysts recently commented on the stock. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded shares of Alcoa from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 1st. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $75.00 to $80.00 in a research note on Friday, May 22nd. Finally, BMO Capital Markets increased their price objective on shares of Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.60.
Alcoa Price Performance
AA stock opened at $72.48 on Wednesday. The company has a fifty day moving average price of $69.39 and a 200-day moving average price of $60.84. The company has a market capitalization of $19.13 billion, a P/E ratio of 18.35 and a beta of 1.56. Alcoa has a 52-week low of $27.72 and a 52-week high of $84.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48.
Alcoa (NYSE:AA – Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. Alcoa’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.15 EPS. As a group, equities analysts expect that Alcoa will post 7.95 EPS for the current year.
Alcoa Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. Alcoa’s dividend payout ratio (DPR) is presently 10.13%.
Alcoa Profile
Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.
Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.
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