Alcoa (NYSE:AA) Shares Acquired by Cerity Partners LLC

Cerity Partners LLC increased its position in shares of Alcoa (NYSE:AA - Free Report) by 54.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,016 shares of the industrial products company's stock after purchasing an additional 10,558 shares during the quarter. Cerity Partners LLC's holdings in Alcoa were worth $915,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Alcoa by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock valued at $981,491,000 after buying an additional 165,420 shares in the last quarter. Norges Bank purchased a new stake in shares of Alcoa during the 4th quarter valued at approximately $259,273,000. Geode Capital Management LLC lifted its stake in shares of Alcoa by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock valued at $159,966,000 after buying an additional 39,022 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Alcoa by 46.8% during the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after buying an additional 813,214 shares in the last quarter. Finally, Sourcerock Group LLC increased its holdings in Alcoa by 319.1% during the 4th quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock worth $74,729,000 after acquiring an additional 1,506,009 shares during the period.

Alcoa Stock Down 3.2%

Alcoa stock traded down $1.01 during midday trading on Friday, hitting $30.85. 6,911,380 shares of the company's stock were exchanged, compared to its average volume of 6,028,234. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.97 and a current ratio of 1.65. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77. The firm has a 50-day moving average of $29.18 and a two-hundred day moving average of $30.73. The company has a market cap of $7.99 billion, a PE ratio of 8.05, a P/E/G ratio of 0.18 and a beta of 2.25.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.10. Alcoa had a net margin of 7.86% and a return on equity of 19.27%. The company had revenue of $3.02 billion for the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the prior year, the business earned $0.16 EPS. The firm's quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is presently 10.44%.

Analyst Upgrades and Downgrades

AA has been the topic of a number of analyst reports. UBS Group reaffirmed a "neutral" rating and set a $31.00 target price on shares of Alcoa in a report on Thursday, May 15th. B. Riley decreased their target price on shares of Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Morgan Stanley decreased their target price on shares of Alcoa from $40.00 to $38.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Alcoa from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $41.23.

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.