Meeder Asset Management Inc. Decreases Stock Position in Alcoa $AA

Key Points

• Meeder Asset Management cut its stake in Alcoa by 74.6% in the first quarter, selling 41,710 shares and leaving it with 14,176 shares worth about $940,000.
• Alcoa recently reported quarterly earnings of $2.12 per share, missing Wall Street’s estimate of $2.25, while revenue of $3.97 billion also came in slightly below expectations.
• Analysts remain cautious overall: the stock has a Hold consensus rating with an average price target of $62.73, even though some firms still rate it Buy or Overweight.

Meeder Asset Management Inc. lessened its stake in Alcoa (NYSE:AA - Free Report) by 74.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,176 shares of the industrial products company's stock after selling 41,710 shares during the period. Meeder Asset Management Inc.'s holdings in Alcoa were worth $940,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its position in 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 purchasing an additional 170 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in shares of Alcoa by 1.9% in 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 during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Alcoa by 0.4% in 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 buying an additional 229 shares during the period. CoreCap Advisors LLC raised its holdings 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 buying an additional 237 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position 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 buying an additional 241 shares during the period.

Alcoa Price Performance

Shares of NYSE AA opened at $43.60 on Tuesday. Alcoa has a 1 year low of $28.11 and a 1 year high of $84.38. 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 company's 50-day moving average is $61.27 and its 200 day moving average is $62.45. The stock has a market capitalization of $11.51 billion, a P/E ratio of 8.97, a P/E/G ratio of 0.48 and a beta of 1.63.

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

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Alcoa's dividend payout ratio is currently 8.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AA. UBS Group dropped their target price on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Morgan Stanley reaffirmed an "equal weight" rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Weiss Ratings upgraded Alcoa from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 17th. Wells Fargo & Company reduced their target price on Alcoa from $72.00 to $71.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, B. Riley Financial decreased their target price on Alcoa from $92.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Alcoa currently has a consensus rating of "Hold" and an average price target of $62.73.

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.

Want to see what other hedge funds are holding AA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alcoa (NYSE:AA - Free Report).

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.