Vanguard Group Inc. Sells 324,811 Shares of Alcoa (NYSE:AA)

Key Points

• Vanguard Group Inc. has reduced its stake in Alcoa by 1.3%, bringing its total ownership to approximately 25.65 million shares worth $782.46 million as of the latest SEC filing.
• Alcoa reported a quarterly earnings of $0.39 per share, exceeding analyst expectations, with revenue increasing by 3.9% year-over-year to $3.02 billion.
• A quarterly dividend of $0.10 per share has been announced, representing an annual yield of 1.3%, with the payout ratio currently at 10.44%.

Vanguard Group Inc. lowered its stake in Alcoa (NYSE:AA - Free Report) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,654,318 shares of the industrial products company's stock after selling 324,811 shares during the quarter. Vanguard Group Inc. owned about 9.91% of Alcoa worth $782,457,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Sourcerock Group LLC grew its stake in Alcoa by 319.1% during the 4th 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 in the last quarter. Northern Trust Corp lifted its holdings in shares of Alcoa by 46.8% during the 4th quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company's stock valued at $96,324,000 after buying an additional 813,214 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Alcoa by 488.2% during the 4th quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock valued at $30,320,000 after buying an additional 666,117 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Alcoa by 536.9% during the 4th quarter. Mackenzie Financial Corp now owns 645,140 shares of the industrial products company's stock valued at $24,373,000 after buying an additional 543,853 shares during the last quarter. Finally, Drummond Knight Asset Management Pty Ltd acquired a new stake in shares of Alcoa during the 4th quarter valued at about $19,646,000.

Wall Street Analyst Weigh In

AA has been the subject of several research reports. B. Riley reduced their price target on Alcoa from $38.00 to $37.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. UBS Group restated a "neutral" rating and issued a $31.00 target price on shares of Alcoa in a report on Thursday, May 15th. Bank of America boosted their target price on Alcoa from $26.00 to $27.00 and gave the stock an "underperform" rating in a report on Thursday, July 17th. Barclays boosted their target price on Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday, May 16th. Finally, Wall Street Zen lowered Alcoa from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $41.23.

Alcoa Stock Performance

Shares of NYSE AA traded down $0.12 during trading hours on Friday, reaching $31.21. The stock had a trading volume of 5,520,402 shares, compared to its average volume of 5,798,863. The business's fifty day moving average is $29.90 and its two-hundred day moving average is $29.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.65 and a quick ratio of 0.97. The company has a market cap of $8.08 billion, a price-to-earnings ratio of 8.15, a PEG ratio of 0.18 and a beta of 2.24. Alcoa has a twelve month low of $21.53 and a twelve month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.10. The business had revenue of $3.02 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share. As a group, research analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, August 12th. Alcoa's dividend payout ratio is 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.