Woodline Partners LP Lowers Stock Position in Alcoa Co. (NYSE:AA)

Woodline Partners LP lessened its holdings in Alcoa Co. (NYSE:AA - Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 345,844 shares of the industrial products company's stock after selling 23,464 shares during the period. Woodline Partners LP owned about 0.13% of Alcoa worth $13,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Alcoa by 77.1% during the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 296 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in Alcoa during the fourth quarter valued at approximately $29,000. Point72 Hong Kong Ltd purchased a new stake in Alcoa during the fourth quarter valued at approximately $36,000. Smartleaf Asset Management LLC lifted its position in Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after acquiring an additional 393 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Alcoa by 78.5% during the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company's stock valued at $51,000 after acquiring an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. HC Wainwright increased their target price on shares of Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. UBS Group reissued a "neutral" rating and set a $31.00 target price on shares of Alcoa in a research report on Thursday, May 15th. B. Riley decreased their target price on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M JPMorgan Chase & Co. decreased their target price on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Finally, Bank of America restated an "underperform" rating and set a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $42.50.

Alcoa Trading Down 1.6%

Shares of Alcoa stock opened at $28.34 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. Alcoa Co. has a 12-month low of $21.53 and a 12-month high of $47.77. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -177.11, a PEG ratio of 0.19 and a beta of 2.29. The firm's 50 day simple moving average is $27.55 and its two-hundred day simple moving average is $34.71.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.42. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Analysts predict that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.41%. Alcoa's payout ratio is currently 12.05%.

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.

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