LPL Financial LLC Cuts Position in Alcoa $AA

Key Points

• LPL Financial LLC reduced its stake in Alcoa by 40.9%, selling 66,900 shares and holding a total of 96,491 shares valued at $2,943,000 as of the latest SEC filing.
• Several institutional investors, including Zurcher Kantonalbank and Cetera Investment Advisers, increased their holdings in Alcoa during the same period, indicating ongoing interest in the company.
• Alcoa's stock currently has an average rating of "Hold", with a consensus price target of $41.23, as various brokerages have issued updated ratings with differing target prices.

LPL Financial LLC trimmed its stake in Alcoa (NYSE:AA - Free Report) by 40.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,491 shares of the industrial products company's stock after selling 66,900 shares during the period. LPL Financial LLC's holdings in Alcoa were worth $2,943,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. lifted its stake in shares of Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 296 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 520 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Alcoa during the 4th quarter worth approximately $36,000. Montag A & Associates Inc. bought a new stake in shares of Alcoa during the 1st quarter worth approximately $40,000. Finally, Continuum Advisory LLC lifted its stake in shares of Alcoa by 30.7% during the 4th quarter. Continuum Advisory LLC now owns 1,470 shares of the industrial products company's stock worth $56,000 after acquiring an additional 345 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their price target on Alcoa from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. UBS Group reissued a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research note on Thursday, May 15th. Morgan Stanley decreased their price target on Alcoa from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. Finally, Barclays raised their price target on Alcoa to $31.00 and gave the stock a "hold" rating in a research note on Friday, May 16th. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alcoa currently has a consensus rating of "Hold" and an average price target of $41.23.

Alcoa Trading Up 0.6%

AA traded up $0.18 during trading on Thursday, hitting $29.51. 2,953,925 shares of the stock were exchanged, compared to its average volume of 5,530,971. The firm has a 50 day simple moving average of $29.96 and a 200 day simple moving average of $29.82. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 7.70, a P/E/G ratio of 0.17 and a beta of 2.24. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.65.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.Alcoa's quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. As a group, equities analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, August 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. Alcoa's dividend payout ratio (DPR) is currently 10.44%.

Alcoa Company Profile

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.