Slate Path Capital LP Sells 48,930 Shares of Alcoa Co. (NYSE:AA)

Slate Path Capital LP lessened its stake in Alcoa Co. (NYSE:AA - Free Report) by 1.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,682,211 shares of the industrial products company's stock after selling 48,930 shares during the period. Alcoa accounts for 2.5% of Slate Path Capital LP's portfolio, making the stock its 14th biggest holding. Slate Path Capital LP owned about 1.43% of Alcoa worth $139,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Hsbc Holdings PLC increased its position in shares of Alcoa by 760.0% during the 4th quarter. Hsbc Holdings PLC now owns 51,322 shares of the industrial products company's stock valued at $1,939,000 after purchasing an additional 45,354 shares during the period. J. Safra Sarasin Holding AG grew its holdings in Alcoa by 12.7% during the fourth quarter. J. Safra Sarasin Holding AG now owns 21,468 shares of the industrial products company's stock worth $811,000 after acquiring an additional 2,419 shares during the period. Stifel Financial Corp raised its position in Alcoa by 2.1% in the fourth quarter. Stifel Financial Corp now owns 60,415 shares of the industrial products company's stock worth $2,282,000 after acquiring an additional 1,244 shares in the last quarter. State of Tennessee Department of Treasury lifted its holdings in Alcoa by 2.8% in the 4th quarter. State of Tennessee Department of Treasury now owns 107,662 shares of the industrial products company's stock valued at $4,067,000 after acquiring an additional 2,962 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Alcoa by 110.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,881 shares of the industrial products company's stock valued at $1,167,000 after purchasing an additional 16,186 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AA shares. StockNews.com raised shares of Alcoa from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. UBS Group reduced their price objective on Alcoa from $47.00 to $32.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price on Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. B. Riley reduced their target price on Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Morgan Stanley dropped their price target on Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Alcoa has a consensus rating of "Moderate Buy" and an average target price of $44.17.

Alcoa Stock Down 2.8 %

Shares of AA stock traded down $0.75 during trading on Friday, hitting $25.69. 5,292,757 shares of the company were exchanged, compared to its average volume of 5,430,605. The business's 50-day simple moving average is $29.91 and its 200 day simple moving average is $36.45. Alcoa Co. has a twelve month low of $21.53 and a twelve month high of $47.77. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of -160.56, a P/E/G ratio of 0.19 and a beta of 2.28. 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 (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 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 for the quarter, compared to analysts' expectations of $3.58 billion. As a group, analysts forecast that Alcoa Co. will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.56%. The ex-dividend date was Tuesday, March 4th. Alcoa's payout ratio is currently 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.