Alcoa $AA Shares Sold by JTC Employer Solutions Trustee Ltd

Key Points

• JTC Employer Solutions Trustee Ltd reduced its stake in Alcoa by 29.7% during the second quarter, now holding 35,437 shares worth approximately $1,044,000.
• Analysts have increased their price targets for Alcoa, with HSBC raising theirs to $41.00 and B. Riley to $40.00, indicating a general "buy" sentiment among eight analysts.
• Alcoa has recently declared a quarterly dividend of $0.10, yielding 1.1%, with a payout ratio of 10.44%.

JTC Employer Solutions Trustee Ltd decreased its position in Alcoa (NYSE:AA - Free Report) by 29.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,437 shares of the industrial products company's stock after selling 15,000 shares during the period. JTC Employer Solutions Trustee Ltd's holdings in Alcoa were worth $1,044,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its stake in shares of Alcoa by 1.9% during the second quarter. CWM LLC now owns 18,628 shares of the industrial products company's stock worth $550,000 after acquiring an additional 354 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Alcoa by 0.6% during the second quarter. Louisiana State Employees Retirement System now owns 72,800 shares of the industrial products company's stock worth $2,148,000 after acquiring an additional 400 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Alcoa by 7.0% during the first quarter. Advisors Asset Management Inc. now owns 9,295 shares of the industrial products company's stock worth $283,000 after acquiring an additional 606 shares during the period. State of Michigan Retirement System increased its stake in shares of Alcoa by 1.1% during the first quarter. State of Michigan Retirement System now owns 61,875 shares of the industrial products company's stock worth $1,887,000 after acquiring an additional 700 shares during the period. Finally, CreativeOne Wealth LLC increased its stake in shares of Alcoa by 7.7% during the first quarter. CreativeOne Wealth LLC now owns 10,681 shares of the industrial products company's stock worth $326,000 after acquiring an additional 764 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent analyst reports. HSBC boosted their price target on shares of Alcoa from $33.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday. B. Riley boosted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a "buy" rating in a research note on Tuesday, September 23rd. Wells Fargo & Company initiated coverage on shares of Alcoa in a research note on Tuesday, October 7th. They set an "overweight" rating and a $40.00 price target on the stock. Bank of America boosted their price objective on shares of Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. Finally, Citigroup raised shares of Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a report on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.88.

Alcoa Stock Down 3.1%

Shares of NYSE AA opened at $36.00 on Friday. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The company has a market capitalization of $9.32 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.23 and a beta of 2.20. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97. The firm's 50-day moving average is $32.73 and its two-hundred day moving average is $29.58.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company's revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts anticipate that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa's dividend payout ratio is 10.44%.

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.

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