Edgestream Partners L.P. Sells 51,681 Shares of Alcoa $AA

Key Points

• Edgestream Partners sharply reduced its Alcoa position by selling 51,681 shares, an 76.8% decrease, leaving it with 15,582 shares valued at approximately $1.03 million. Institutional investors and hedge funds collectively own 82.39% of Alcoa.
• Analyst sentiment is mixed but leans cautious: recent firms cut their price targets, while six analysts rate Alcoa a Buy, four Hold, and two Sell. The consensus rating is Hold with a $61.09 price target.
• Alcoa reported quarterly EPS of $2.12, below the $2.25 consensus estimate, and revenue of $3.97 billion versus expectations of $3.99 billion. The company maintained a quarterly dividend of $0.10 per share, representing a 0.9% annualized yield.

Edgestream Partners L.P. trimmed its position in shares of Alcoa (NYSE:AA - Free Report) by 76.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,582 shares of the industrial products company's stock after selling 51,681 shares during the period. Edgestream Partners L.P.'s holdings in Alcoa were worth $1,034,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new stake in shares of Alcoa during the 4th quarter worth approximately $25,000. Raleigh Capital Management Inc. increased its stake in Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 525 shares during the last quarter. CoreCap Advisors LLC raised its position in Alcoa by 74.1% during the fourth 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 in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 581 shares in the last quarter. Finally, Quarry LP lifted its stake in Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company's stock worth $37,000 after purchasing an additional 340 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on AA. Bank of America lowered their price target on Alcoa from $57.00 to $51.00 and set an "underperform" rating for the company in a report on Thursday, July 9th. Zacks Research lowered Alcoa from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. UBS Group decreased their target price on Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. B. Riley Financial lowered their target price on Alcoa from $92.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Finally, Argus dropped their target price on shares of Alcoa from $73.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $61.09.

Alcoa Stock Performance

NYSE AA opened at $44.85 on Tuesday. The firm's fifty day moving average price is $56.90 and its two-hundred day moving average price is $61.32. The stock has a market cap of $11.84 billion, a PE ratio of 9.23, a PEG ratio of 0.51 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a fifty-two week low of $28.50 and a fifty-two week high of $84.38.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 EPS 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 during the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the previous year, the company posted $0.39 earnings per share. On average, equities analysts expect that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.9%. Alcoa's dividend payout ratio (DPR) is currently 8.23%.

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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