Marshall Wace LLP Sells 609,235 Shares of Alcoa Co. (NYSE:AA)

Marshall Wace LLP trimmed its position in Alcoa Co. (NYSE:AA - Free Report) by 79.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,865 shares of the industrial products company's stock after selling 609,235 shares during the quarter. Marshall Wace LLP owned approximately 0.06% of Alcoa worth $6,040,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Jump Financial LLC grew its position in shares of Alcoa by 497.8% during the 4th quarter. Jump Financial LLC now owns 434,595 shares of the industrial products company's stock valued at $16,419,000 after purchasing an additional 361,897 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in Alcoa by 8.8% in the fourth quarter. CreativeOne Wealth LLC now owns 9,917 shares of the industrial products company's stock worth $375,000 after purchasing an additional 803 shares in the last quarter. Mariner LLC boosted its position in shares of Alcoa by 19.8% in the 4th quarter. Mariner LLC now owns 41,322 shares of the industrial products company's stock worth $1,561,000 after purchasing an additional 6,833 shares in the last quarter. Sterling Capital Management LLC increased its position in Alcoa by 54.8% during the 4th quarter. Sterling Capital Management LLC now owns 14,850 shares of the industrial products company's stock valued at $561,000 after buying an additional 5,256 shares in the last quarter. Finally, Scotia Capital Inc. purchased a new position in Alcoa during the fourth quarter valued at $222,000. Hedge funds and other institutional investors own 82.39% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AA shares. HC Wainwright upped their price target on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Morgan Stanley reduced their price target on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research report on Tuesday, January 28th. UBS Group lowered their price objective on Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. reduced their target price on Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Finally, Jefferies Financial Group lowered their price target on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $44.17.

Alcoa Price Performance

Shares of AA stock traded down $0.29 during trading hours on Tuesday, reaching $25.27. 1,585,668 shares of the company were exchanged, compared to its average volume of 5,423,380. The stock's fifty day moving average is $29.70 and its two-hundred day moving average is $36.34. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The company has a market cap of $6.54 billion, a price-to-earnings ratio of -158.31, a P/E/G ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly 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 return on equity of 5.54% and a net margin of 0.50%. The business had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.58 billion. Sell-side 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 was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Tuesday, March 4th. Alcoa's payout ratio is 12.05%.

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.