Alcoa $AA Shares Sold by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA reduced its stake in Alcoa by 51.2%, owning 8,021 shares valued at $245,000 after selling 8,415 shares.
• Several major investors increased their positions in Alcoa, with NewEdge Advisors LLC boosting its stake by 1,098%, now holding 11,704 shares worth $357,000.
• Analysts have varied ratings on Alcoa, with six giving a "Buy" rating and a consensus target price of $41.75, while Barclays and UBS both set target prices at $31.00.

Petrus Trust Company LTA lessened its holdings in Alcoa (NYSE:AA - Free Report) by 51.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,021 shares of the industrial products company's stock after selling 8,415 shares during the period. Petrus Trust Company LTA's holdings in Alcoa were worth $245,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in shares of Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 520 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Alcoa in the 4th quarter valued at $36,000. Montag A & Associates Inc. purchased a new position in shares of Alcoa in the 1st quarter valued at $40,000. Continuum Advisory LLC raised its stake in shares of Alcoa by 30.7% in the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock valued at $56,000 after acquiring an additional 345 shares during the period. Finally, Quarry LP purchased a new position in shares of Alcoa in the 1st quarter valued at $57,000.

Alcoa Stock Performance

Shares of NYSE AA traded up $0.97 during midday trading on Friday, hitting $33.26. The company's stock had a trading volume of 8,311,403 shares, compared to its average volume of 5,144,855. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The firm's fifty day moving average price is $30.76 and its 200-day moving average price is $29.34. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65. The firm has a market cap of $8.61 billion, a P/E ratio of 8.68, a P/E/G ratio of 0.18 and a beta of 2.26.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 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 business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the previous year, the business posted $0.16 EPS. The company's quarterly revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts forecast 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. Stockholders of record on Tuesday, August 12th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.2%. Alcoa's payout ratio is 10.44%.

Analysts Set New Price Targets

Several research firms recently issued reports on AA. Wall Street Zen downgraded shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Citigroup raised shares of Alcoa to a "buy" rating and set a $42.00 price target on the stock in a research note on Tuesday, July 8th. JPMorgan Chase & Co. dropped their price target on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Barclays boosted their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. Finally, Morgan Stanley dropped their target price on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $41.75.

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.