Alcoa $AA Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group trimmed its stake in Alcoa by 0.3%, selling 71,988 shares in Q4 and now owns 25,126,193 shares (9.70% of the company) valued at about $1.335 billion.
• Q1 results missed: Alcoa reported $1.40 EPS versus a $1.60 consensus and revenue of $3.19 billion versus $3.35 billion expected, with revenue down 5.2% year-over-year; the stock has a $16.84 billion market cap, a P/E of 16.16 and a 0.6% dividend yield.
• Analyst outlook is mixed: the consensus rating is "Hold" with an average price target of $64.27, though firms like Citigroup raised their target to $76 and ratings among analysts range from Strong Buy to Sell.

Vanguard Group Inc. decreased its position in shares of Alcoa (NYSE:AA - Free Report) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,126,193 shares of the industrial products company's stock after selling 71,988 shares during the quarter. Vanguard Group Inc. owned 9.70% of Alcoa worth $1,335,206,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. acquired a new position in Alcoa in the 4th quarter worth approximately $4,691,000. waypoint wealth counsel acquired a new stake in Alcoa during the 4th quarter valued at approximately $220,000. Legacy Capital Group California Inc. purchased a new stake in shares of Alcoa in the 4th quarter valued at $529,000. HB Wealth Management LLC purchased a new stake in shares of Alcoa in the 4th quarter valued at $493,000. Finally, Ruffer LLP acquired a new stake in shares of Alcoa in the fourth quarter worth $14,153,000. Hedge funds and other institutional investors own 82.39% of the company's stock.

Alcoa Stock Performance

AA opened at $63.83 on Friday. The firm has a fifty day moving average price of $64.93 and a 200 day moving average price of $54.62. Alcoa has a 1 year low of $24.15 and a 1 year high of $75.70. The stock has a market cap of $16.84 billion, a P/E ratio of 16.16 and a beta of 1.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The firm's quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 EPS. Equities research analysts anticipate that Alcoa will post 7.33 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Tuesday, March 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 10th. Alcoa's payout ratio is currently 10.13%.

Wall Street Analysts Forecast Growth

AA has been the subject of several recent research reports. Argus set a $73.00 target price on shares of Alcoa in a report on Monday. Weiss Ratings raised Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday. Citigroup lifted their price objective on Alcoa from $54.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Wells Fargo & Company set a $68.00 price objective on Alcoa in a report on Thursday, March 12th. Finally, Zacks Research upgraded Alcoa from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Alcoa presently has a consensus rating of "Hold" and an average price target of $64.27.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

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