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

Woodline Partners LP reduced its holdings in Alcoa Co. (NYSE:AA - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 large investors have also made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Alcoa by 77.1% in the 4th 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 shares of Alcoa in the 4th quarter valued at $29,000. Point72 Hong Kong Ltd purchased a new stake in Alcoa during the fourth quarter worth $36,000. Smartleaf Asset Management LLC grew 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 buying an additional 393 shares during the period. Finally, UMB Bank n.a. grew 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 buying an additional 598 shares during the period. 82.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on AA shares. 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 report on Tuesday, April 8th. B. Riley dropped their price target on shares of Alcoa from $44.00 to $43.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M HC Wainwright raised their price target on shares of Alcoa to $90.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. Wall Street Zen lowered shares of Alcoa from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Alcoa from $28.00 to $25.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $42.50.

Alcoa Price Performance

Shares of AA stock traded up $0.20 on Tuesday, reaching $28.27. 1,195,253 shares of the company were exchanged, compared to its average volume of 5,895,999. The company has a market cap of $7.32 billion, a price-to-earnings ratio of -176.69, a P/E/G ratio of 0.19 and a beta of 2.29. The business has a 50-day moving average price of $27.15 and a 200 day moving average price of $34.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77.

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

Alcoa Dividend Announcement

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