Paloma Partners Management Co Has $2.90 Million Stock Holdings in Alcoa $AA

Key Points

• Paloma Partners Management Co has significantly cut its holdings in Alcoa by 95.5%, selling over 2 million shares and now owning 95,000 shares worth approximately $2.9 million.
• Alcoa's recent quarterly earnings report showed an EPS of $0.39, exceeding analysts' estimates, with revenues of $3.02 billion, up 3.9% year-over-year.
• Analysts have set a consensus rating of "Hold" for Alcoa, with target prices ranging from $27.00 to $42.00, reflecting mixed sentiment on the stock's future performance.

Paloma Partners Management Co trimmed its position in shares of Alcoa (NYSE:AA - Free Report) by 95.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,000 shares of the industrial products company's stock after selling 2,012,015 shares during the period. Paloma Partners Management Co's holdings in Alcoa were worth $2,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in Alcoa by 33.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,803,086 shares of the industrial products company's stock valued at $207,490,000 after acquiring an additional 1,721,222 shares during the period. Northern Trust Corp increased its stake in Alcoa by 46.8% during the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after acquiring an additional 813,214 shares during the period. Sourcerock Group LLC increased its stake in Alcoa by 319.1% during the fourth quarter. Sourcerock Group LLC now owns 1,978,009 shares of the industrial products company's stock valued at $74,729,000 after acquiring an additional 1,506,009 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Alcoa by 0.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,899,066 shares of the industrial products company's stock valued at $57,922,000 after acquiring an additional 6,832 shares during the period. Finally, L1 Capital Pty Ltd bought a new position in Alcoa during the first quarter valued at about $52,675,000.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AA. Citigroup upgraded Alcoa to a "buy" rating and set a $42.00 price target on the stock in a research note on Tuesday, July 8th. B. Riley lowered their price objective on Alcoa from $38.00 to $37.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a research note on Sunday, June 22nd. Barclays upped their price objective on Alcoa to $31.00 and gave the company a "hold" rating in a research note on Friday, May 16th. Finally, UBS Group reiterated a "neutral" rating and issued a $31.00 price objective on shares of Alcoa in a research note on Thursday, May 15th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $41.67.

Alcoa Price Performance

Shares of AA traded up $0.53 on Friday, hitting $31.82. The company's stock had a trading volume of 5,685,262 shares, compared to its average volume of 5,052,331. The company has a market capitalization of $8.24 billion, a PE ratio of 8.31, a PEG ratio of 0.18 and a beta of 2.26. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a 50 day moving average price of $30.64 and a 200 day moving average price of $29.46.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results 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 business 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 revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.16 EPS. On average, research analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 12th. Alcoa's payout ratio is presently 10.44%.

Alcoa 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.