Tidal Investments LLC trimmed its position in Alcoa Co. (NYSE:AA - Free Report) by 46.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,715 shares of the industrial products company's stock after selling 14,516 shares during the quarter. Tidal Investments LLC's holdings in Alcoa were worth $631,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Temasek Holdings Private Ltd raised its holdings in Alcoa by 25.6% in the fourth quarter. Temasek Holdings Private Ltd now owns 438,819 shares of the industrial products company's stock worth $16,579,000 after buying an additional 89,389 shares during the last quarter. Thomist Capital Management LP boosted its holdings in shares of Alcoa by 76.0% during the 4th quarter. Thomist Capital Management LP now owns 130,100 shares of the industrial products company's stock valued at $4,833,000 after acquiring an additional 56,200 shares during the last quarter. Sagefield Capital LP grew its stake in shares of Alcoa by 1.2% in the fourth quarter. Sagefield Capital LP now owns 222,317 shares of the industrial products company's stock worth $8,399,000 after acquiring an additional 2,676 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of Alcoa during the fourth quarter valued at approximately $36,000. Finally, ProShare Advisors LLC boosted its holdings in Alcoa by 7.3% in the fourth quarter. ProShare Advisors LLC now owns 12,088 shares of the industrial products company's stock worth $457,000 after purchasing an additional 827 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors.
Alcoa Price Performance
Shares of AA stock traded down $0.88 during trading hours on Friday, hitting $26.75. The stock had a trading volume of 5,668,244 shares, compared to its average volume of 5,486,522. The stock's 50-day moving average price is $26.64 and its two-hundred day moving average price is $33.86. Alcoa Co. has a one year low of $21.53 and a one year high of $47.77. The stock has a market capitalization of $6.93 billion, a price-to-earnings ratio of -167.19, a PEG ratio of 0.19 and a beta of 2.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.
Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.42. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. The business had revenue of $3.37 billion for the quarter, compared to analysts' expectations of $3.58 billion. Equities analysts forecast that Alcoa Co. will post 4.43 EPS for the current year.
Alcoa Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is 12.05%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on AA. UBS Group reissued a "neutral" rating and set a $31.00 price target on shares of Alcoa in a report on Thursday, May 15th. JPMorgan Chase & Co. lowered their target price on Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Bank of America restated an "underperform" rating and set a $26.00 price target (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. B. Riley lowered their price objective on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Wall Street Zen downgraded shares of Alcoa from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Alcoa has a consensus rating of "Hold" and a consensus price target of $42.50.
View Our Latest Analysis on AA
About Alcoa
(
Free Report)
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.
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