Boston Partners Sells 463,689 Shares of Alcoa $AA

Boston Partners decreased its position in shares of Alcoa (NYSE:AA - Free Report) by 92.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,344 shares of the industrial products company's stock after selling 463,689 shares during the quarter. Boston Partners' holdings in Alcoa were worth $1,108,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Regal Partners Ltd lifted its holdings in Alcoa by 56.2% during the 1st quarter. Regal Partners Ltd now owns 322,856 shares of the industrial products company's stock worth $9,847,000 after buying an additional 116,146 shares during the period. Persistent Asset Partners Ltd acquired a new position in Alcoa during the 1st quarter worth about $440,000. Nuveen LLC acquired a new position in Alcoa during the 1st quarter worth about $23,339,000. Aigen Investment Management LP lifted its holdings in Alcoa by 254.0% during the 1st quarter. Aigen Investment Management LP now owns 71,379 shares of the industrial products company's stock worth $2,177,000 after buying an additional 51,216 shares during the period. Finally, Virtu Financial LLC acquired a new position in Alcoa during the 1st quarter worth about $973,000.

Analyst Upgrades and Downgrades

Several research analysts have commented on AA shares. B. Riley cut their target price on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. UBS Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Alcoa in a report on Thursday, May 15th. Bank of America lifted their price objective on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a research report on Thursday, July 17th. Morgan Stanley lowered their price objective on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Finally, Barclays lifted their price objective on Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $41.23.

Alcoa Stock Up 8.6%

Alcoa stock traded up $2.5350 during midday trading on Friday, reaching $32.0450. The stock had a trading volume of 5,329,125 shares, compared to its average volume of 5,933,816. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. The company has a market capitalization of $8.30 billion, a P/E ratio of 8.37, a PEG ratio of 0.17 and a beta of 2.24. The company has a fifty day moving average price of $29.96 and a two-hundred day moving average price of $29.82. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.The company's revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.16 EPS. As a group, equities analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Tuesday, August 12th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.40 annualized dividend and a yield of 1.2%. Alcoa's dividend payout ratio is presently 10.44%.

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.