Dimensional Fund Advisors LP Lowers Stock Holdings in Alcoa $AA

Key Points

• Dimensional Fund Advisors LP cut its Alcoa stake by 25.5% in the first quarter, selling nearly 3.0 million shares and ending with 8.6 million shares worth about $572 million.
• Alcoa reported Q2 earnings of $2.12 per share, missing analyst expectations of $2.25, while revenue came in slightly below estimates at $3.97 billion.
• The company paid a quarterly dividend of $0.10 per share and currently yields about 0.9%; Wall Street’s consensus rating remains Hold with an average target price of $62.73.

Dimensional Fund Advisors LP lowered its position in Alcoa (NYSE:AA - Free Report) by 25.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,625,297 shares of the industrial products company's stock after selling 2,955,506 shares during the period. Dimensional Fund Advisors LP owned about 3.27% of Alcoa worth $572,058,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC lifted its position in shares of Alcoa by 3.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company's stock valued at $341,000 after acquiring an additional 170 shares in the last quarter. Prime Capital Investment Advisors LLC grew its position in shares of Alcoa by 1.9% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company's stock worth $568,000 after purchasing an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in shares of Alcoa by 0.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company's stock worth $3,079,000 after purchasing an additional 229 shares in the last quarter. CoreCap Advisors LLC raised its stake in Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 237 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Alcoa by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company's stock valued at $722,000 after purchasing an additional 241 shares during the period.

Alcoa Price Performance

NYSE:AA opened at $43.60 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. The business has a 50 day simple moving average of $61.27 and a 200-day simple moving average of $62.45. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 0.48 and a beta of 1.63. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the firm earned $0.39 EPS. Equities analysts forecast that Alcoa will post 6.79 EPS for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Alcoa's payout ratio is presently 8.23%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AA shares. Argus set a $73.00 price target on Alcoa in a research note on Monday, April 27th. Royal Bank Of Canada set a $70.00 price objective on shares of Alcoa in a research report on Wednesday, July 1st. Morgan Stanley reissued an "equal weight" rating and issued a $53.00 target price (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Finally, UBS Group cut their target price on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $62.73.

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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