WINTON GROUP Ltd Sells 43,155 Shares of Alcoa $AA

Key Points

• WINTON GROUP Ltd cut its Alcoa stake by 65% in the second quarter, selling 43,155 shares and retaining 23,200 shares valued at approximately $1.21 million.
• Analyst sentiment is mixed: six analysts rate Alcoa a Buy, four Hold, and two Sell. The stock has an average rating of “Hold” and a consensus price target of $61.09, above its reported $48.26 opening price.
• Alcoa reported quarterly EPS of $2.12, missing estimates by $0.13, while revenue of $3.97 billion was slightly below expectations. The company also paid a quarterly dividend of $0.10 per share, representing a 0.8% annualized yield.

WINTON GROUP Ltd decreased its position in Alcoa (NYSE:AA - Free Report) by 65.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,200 shares of the industrial products company's stock after selling 43,155 shares during the quarter. WINTON GROUP Ltd's holdings in Alcoa were worth $1,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AA. Basepoint Wealth LLC purchased a new stake in shares of Alcoa during the 4th quarter valued at about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Alcoa in the 2nd quarter worth approximately $25,000. Advisory Services Network LLC purchased a new position in shares of Alcoa in the third quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company's stock worth $31,000 after buying an additional 581 shares during the last quarter. Finally, Western Wealth Management LLC bought a new stake in Alcoa during the first quarter valued at approximately $35,000.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen raised shares of Alcoa from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Zacks Research cut shares of Alcoa from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 8th. BMO Capital Markets cut their price objective on shares of Alcoa from $60.00 to $55.00 and set a "market perform" rating for the company in a research report on Friday, July 17th. B. Riley Financial reduced their price objective on Alcoa from $92.00 to $80.00 and set a "buy" rating for the company in a research note on Tuesday, July 7th. Finally, Argus lowered their target price on Alcoa from $73.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $61.09.

Alcoa Stock Performance

AA opened at $48.26 on Monday. The firm has a market cap of $12.74 billion, a P/E ratio of 9.93, a PEG ratio of 0.55 and a beta of 1.63. Alcoa has a 1-year low of $30.81 and a 1-year high of $84.38. The company has a 50 day simple moving average of $48.61 and a two-hundred day simple moving average of $59.24. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The firm had revenue of $3.97 billion during the quarter, compared to analysts' expectations of $3.99 billion. During the same period last year, the company earned $0.39 earnings per share. Equities analysts forecast that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, August 11th. Alcoa's payout ratio is presently 8.23%.

Insider Activity

In related news, EVP Renato Bacchi sold 700 shares of Alcoa stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president owned 74,930 shares of the company's stock, valued at approximately $3,822,928.60. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tammi A. Jones sold 15,628 shares of the business's stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the transaction, the executive vice president directly owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Alcoa Profile

Alcoa Corporation NYSE: AA is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of select value-added aluminum products. The company serves customers in industries such as transportation, aerospace, construction, packaging, consumer products and energy.

Founded in 1888 as the Pittsburgh Reduction Company, Alcoa played a major role in developing the commercial aluminum industry and adopted the Alcoa name in 1907.

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