Man Group plc reduced its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 72.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 106,002 shares of the industrial products company's stock after selling 285,341 shares during the period. Man Group plc's holdings in Alcoa were worth $4,005,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. grew its position in shares of Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 296 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Alcoa during the 4th quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after buying an additional 393 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after buying an additional 598 shares in the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in shares of Alcoa during the 4th quarter valued at approximately $73,000. 82.39% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently commented on AA shares. Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. B. Riley lowered their target price on shares of 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 Barclays increased their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group reiterated a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $42.50.
Check Out Our Latest Analysis on Alcoa
Alcoa Trading Up 0.7%
NYSE:AA traded up $0.20 during trading hours on Tuesday, reaching $28.27. The company's stock had a trading volume of 4,741,352 shares, compared to its average volume of 5,502,379. The firm has a market capitalization of $7.32 billion, a price-to-earnings ratio of -176.69, a PEG ratio of 0.19 and a beta of 2.29. The firm has a 50-day simple moving average of $27.02 and a 200-day simple moving average of $34.21. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.
Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.73 by $0.42. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts expect that Alcoa Co. will post 4.43 EPS for the current fiscal year.
Alcoa Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date is Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is presently 12.05%.
Alcoa Company Profile
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Free Report)
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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