First Trust Advisors LP Has $29.05 Million Stock Position in Alcoa $AA

First Trust Advisors LP cut its holdings in shares of Alcoa (NYSE:AA - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 438,041 shares of the industrial products company's stock after selling 48,250 shares during the period. First Trust Advisors LP owned approximately 0.17% of Alcoa worth $29,055,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AA. Dimensional Fund Advisors LP lifted its position in Alcoa by 4.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,580,803 shares of the industrial products company's stock valued at $615,428,000 after acquiring an additional 462,243 shares in the last quarter. State Street Corp increased its holdings in Alcoa by 6.7% during the 3rd quarter. State Street Corp now owns 11,458,529 shares of the industrial products company's stock worth $376,871,000 after purchasing an additional 721,063 shares in the last quarter. Geode Capital Management LLC increased its holdings in Alcoa by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 6,655,655 shares of the industrial products company's stock worth $389,621,000 after purchasing an additional 349,426 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Alcoa by 211.7% in the fourth quarter. Bank of New York Mellon Corp now owns 6,254,017 shares of the industrial products company's stock worth $332,338,000 after purchasing an additional 4,247,559 shares during the last quarter. Finally, L1 Capital Pty Ltd raised its stake in shares of Alcoa by 22.3% in the third quarter. L1 Capital Pty Ltd now owns 5,887,699 shares of the industrial products company's stock worth $193,646,000 after purchasing an additional 1,073,357 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company's stock.

Wall Street Analyst Weigh In

AA has been the topic of several analyst reports. Argus cut their target price on Alcoa from $73.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Wells Fargo & Company lowered their price target on Alcoa from $72.00 to $71.00 and set an "overweight" rating for the company in a research report on Friday, July 17th. Royal Bank Of Canada set a $70.00 price target on Alcoa in a research report on Wednesday, July 1st. B. Riley Financial cut their price objective on shares of Alcoa from $92.00 to $80.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. Finally, Bank of America cut their price objective on shares of Alcoa from $57.00 to $51.00 and set an "underperform" rating on the stock in a report on Thursday, July 9th. Six 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $61.09.

Alcoa Trading Up 0.7%

NYSE:AA opened at $44.38 on Wednesday. Alcoa has a 52 week low of $28.11 and a 52 week high of $84.38. The firm has a 50-day moving average price of $58.81 and a two-hundred day moving average price of $61.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth ratio of 0.50 and a beta of 1.63.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results 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). The business had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities analysts expect that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared 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. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, May 19th. Alcoa's dividend payout ratio (DPR) is 8.23%.

About Alcoa

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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