Hosking Partners LLP Sells 31,806 Shares of Alcoa $AA

Hosking Partners LLP cut its position in shares of Alcoa (NYSE:AA - Free Report) by 6.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 429,433 shares of the industrial products company's stock after selling 31,806 shares during the period. Hosking Partners LLP owned approximately 0.16% of Alcoa worth $18,036,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Alcoa in the 2nd quarter worth about $25,000. Western Wealth Management LLC bought a new stake in Alcoa in the first quarter worth about $35,000. Caitong International Asset Management Co. Ltd boosted its position in shares of 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 buying an additional 581 shares during the period. Costello Asset Management INC purchased a new position in shares of Alcoa during the first quarter valued at approximately $53,000. Finally, U S Global Investors Inc. purchased a new position in shares of Alcoa during the first quarter valued at approximately $66,000. 82.39% of the stock is currently owned by institutional investors.

More Alcoa News

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Analyst coverage still points to meaningful potential upside. The average price target is approximately $58.23, well above Alcoa’s recent trading level, suggesting analysts view the stock as undervalued. Alcoa Stock Has Average Price Target of $58.23
• Positive Sentiment: Citigroup maintained a “buy” rating while lowering its price target from $76 to $56, implying roughly 38% upside. Citigroup Lowers Alcoa Price Target
• Positive Sentiment: B. Riley also retained a “buy” rating, with a target reduction from $80 to $63, representing approximately 55% upside. B. Riley Lowers Alcoa Price Target
• Positive Sentiment: Freedom Broker kept its “buy” recommendation and lowered its target from $76 to $62, still indicating more than 50% potential upside. Freedom Broker Lowers Alcoa Price Target
• Neutral Sentiment: Morgan Stanley initiated or reiterated a “hold” rating, signaling limited conviction that Alcoa will outperform in the near term. Alcoa Gets a Hold from Morgan Stanley
• Negative Sentiment: Despite the bullish ratings, all three brokers sharply reduced their targets. The coordinated cuts suggest analysts are lowering expectations for aluminum prices, earnings growth, or industry conditions, which can pressure the stock even when the ratings remain positive.
• Negative Sentiment: A Seeking Alpha analysis described Alcoa as undervalued but cautioned that investors should not expect major near-term price gains, reinforcing concerns about limited catalysts and a slower recovery. Alcoa Undervalued But Don't Expect Any Major Price Runs

Alcoa Stock Down 0.3%

NYSE:AA opened at $40.68 on Thursday. Alcoa has a 1-year low of $35.12 and a 1-year high of $84.38. The company has a 50-day moving average of $46.24 and a 200 day moving average of $55.38. The firm has a market cap of $10.74 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 0.60 and a beta of 1.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.31 and a quick ratio of 1.66.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.31. The company had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The firm's quarterly revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 EPS. As a group, research analysts anticipate that Alcoa will post 6.67 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 27th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, October 27th. Alcoa's dividend payout ratio is presently 6.91%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Alcoa from $53.00 to $50.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 7th. B. Riley Financial decreased their price target on Alcoa from $80.00 to $63.00 and set a "buy" rating for the company in a research note on Tuesday. Bank of America dropped their price objective on Alcoa from $57.00 to $51.00 and set an "underperform" rating for the company in a report on Thursday, July 9th. Argus dropped their price objective on Alcoa from $73.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, July 22nd. Finally, UBS Group cut their price objective on Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $58.23.

Insider Activity at Alcoa

In other news, EVP Renato Bacchi sold 700 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the sale, the executive vice president owned 74,930 shares of the company's stock, valued at approximately $3,822,928.60. This represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Tammi Jones sold 15,628 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the transaction, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.43% of the stock is currently owned by corporate insiders.

Alcoa Profile

Alcoa Corporation NYSE: AA is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.

The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.