Bank of New York Mellon Corp Has $66.20 Million Stake in Alcoa (NYSE:AA)

Bank of New York Mellon Corp trimmed its holdings in shares of Alcoa (NYSE:AA - Free Report) by 14.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,170,543 shares of the industrial products company's stock after selling 380,318 shares during the quarter. Bank of New York Mellon Corp owned about 0.84% of Alcoa worth $66,202,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in Alcoa by 77.1% during the fourth 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. Continuum Advisory LLC boosted its holdings in Alcoa by 30.7% during the fourth 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. Captrust Financial Advisors boosted its holdings in Alcoa by 5.8% during the fourth quarter. Captrust Financial Advisors now owns 6,569 shares of the industrial products company's stock valued at $248,000 after acquiring an additional 361 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Alcoa by 6.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 9,029 shares of the industrial products company's stock valued at $341,000 after acquiring an additional 517 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Alcoa by 134.7% during the first 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.

Alcoa Stock Performance

NYSE:AA opened at $31.12 on Friday. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The firm has a 50 day moving average of $28.52 and a 200-day moving average of $31.17. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $8.06 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 0.19 and a beta of 2.25.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 6.79% and a return on equity of 18.56%. The company had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.58 billion. As a group, sell-side analysts anticipate that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date was Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is currently 12.05%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Citigroup upgraded shares of Alcoa to a "buy" rating and set a $42.00 target price for the company in a research note on Tuesday. Bank of America reiterated an "underperform" rating and issued a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. 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. Finally, B. Riley reiterated a "buy" rating and issued a $38.00 target price (down previously from $43.00) on shares of Alcoa in a research note on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $42.31.

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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