Ninety One UK Ltd Sells 239,536 Shares of Alcoa (NYSE:AA)

Ninety One UK Ltd reduced its stake in Alcoa (NYSE:AA - Free Report) by 48.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,038 shares of the industrial products company's stock after selling 239,536 shares during the period. Ninety One UK Ltd owned approximately 0.10% of Alcoa worth $7,901,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AA. Bessemer Group Inc. raised its position in shares of Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock worth $26,000 after buying an additional 296 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Alcoa by 134.7% in the first quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company's stock worth $28,000 after buying an additional 520 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Alcoa in the fourth quarter worth $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of Alcoa in the fourth quarter worth $36,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Alcoa by 59.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock worth $39,000 after buying an additional 393 shares in the last quarter.

Alcoa Trading Down 1.4%

Shares of NYSE:AA traded down $0.45 on Friday, reaching $31.12. 4,419,433 shares of the company traded hands, compared to its average volume of 5,665,364. The business's 50-day simple moving average is $28.52 and its 200 day simple moving average is $31.17. Alcoa has a 52 week low of $21.53 and a 52 week high of $47.77. The stock has a market capitalization of $8.06 billion, a P/E ratio of 9.37, a price-to-earnings-growth ratio of 0.19 and a beta of 2.25. The company has a current ratio of 1.71, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. Alcoa had a return on equity of 18.56% and a net margin of 6.79%. The firm had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.58 billion. As a group, equities analysts anticipate that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Tuesday, May 20th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.29%. Alcoa's payout ratio is presently 12.05%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 price objective on the stock in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on Alcoa from $25.00 to $28.00 and gave the company a "neutral" rating in a research report on Wednesday, June 18th. Wall Street Zen downgraded Alcoa from a "buy" rating to a "hold" rating in a research report on Sunday, June 22nd. Barclays raised their price target on Alcoa to $31.00 and gave the company a "hold" rating in a research report on Friday, May 16th. Finally, UBS Group restated a "neutral" rating and set a $31.00 price target on shares of Alcoa in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $42.31.

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.