Cresset Asset Management LLC Lowers Holdings in Alcoa Co. (NYSE:AA)

Cresset Asset Management LLC lowered its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 96.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,672 shares of the industrial products company's stock after selling 223,226 shares during the period. Cresset Asset Management LLC's holdings in Alcoa were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in shares of Alcoa in the 4th quarter worth $259,273,000. Northern Trust Corp lifted its stake in Alcoa by 46.8% during the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock worth $96,324,000 after purchasing an additional 813,214 shares during the last quarter. ARGA Investment Management LP boosted its holdings in shares of Alcoa by 29.6% in the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock worth $113,276,000 after purchasing an additional 684,505 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Alcoa by 488.2% during the 4th quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock valued at $30,320,000 after purchasing an additional 666,117 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Alcoa by 96.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company's stock valued at $40,240,000 after purchasing an additional 522,039 shares during the last quarter. Institutional investors own 82.39% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley cut their target price on Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Bank of America restated an "underperform" rating and issued a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. HC Wainwright increased their target price on shares of Alcoa to $90.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. B. Riley cut their target price on Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $42.50.

Alcoa Stock Down 1.5%

Shares of NYSE:AA traded down $0.43 during trading on Thursday, hitting $27.84. The stock had a trading volume of 968,012 shares, compared to its average volume of 5,481,270. The company has a market capitalization of $7.21 billion, a PE ratio of -173.82, a PEG ratio of 0.19 and a beta of 2.29. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The firm's fifty day moving average is $27.55 and its 200 day moving average is $34.71. Alcoa Co. has a 12 month low of $21.53 and a 12 month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Analysts anticipate that Alcoa Co. will post 4.43 EPS for the current fiscal 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 paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.44%. The ex-dividend date is Tuesday, May 20th. Alcoa's payout ratio is currently 12.05%.

Alcoa 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.