Voloridge Investment Management LLC Trims Stake in Alcoa Co. (NYSE:AA)

Voloridge Investment Management LLC lessened its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 83.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,655 shares of the industrial products company's stock after selling 1,747,525 shares during the period. Voloridge Investment Management LLC owned approximately 0.14% of Alcoa worth $13,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Alcoa by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company's stock worth $981,491,000 after acquiring an additional 165,420 shares during the period. Norges Bank bought a new stake in Alcoa during the fourth quarter worth approximately $259,273,000. Geode Capital Management LLC increased its stake in Alcoa by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company's stock worth $159,966,000 after acquiring an additional 39,022 shares during the last quarter. ARGA Investment Management LP boosted its holdings in Alcoa by 29.6% during the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock valued at $113,276,000 after acquiring an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Alcoa by 8.1% in the 4th quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company's stock valued at $96,372,000 after acquiring an additional 192,078 shares during the last quarter. Institutional investors own 82.39% of the company's stock.

Alcoa Stock Performance

Shares of NYSE:AA traded down $0.31 during trading on Thursday, hitting $27.57. The stock had a trading volume of 909,262 shares, compared to its average volume of 5,472,464. Alcoa Co. has a 12-month low of $21.53 and a 12-month high of $47.77. The stock has a market capitalization of $7.14 billion, a price-to-earnings ratio of -171.76, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $26.90 and a two-hundred day simple moving average of $34.17.

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, topping the consensus estimate of $1.73 by $0.42. The firm had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, equities research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Tuesday, May 20th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, May 20th. Alcoa's dividend payout ratio (DPR) is 12.05%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AA. Barclays increased their price target on Alcoa to $31.00 and gave the stock a "hold" rating in a research report on Friday, May 16th. UBS Group restated a "neutral" rating and set a $31.00 price objective on shares of Alcoa in a research note on Thursday, May 15th. Wall Street Zen cut Alcoa from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Bank of America reiterated an "underperform" rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Finally, HC Wainwright increased their price target on Alcoa to $90.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $42.50.

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.