Ninety One UK Ltd Cuts Position in Alcoa Co. (NYSE:AA)

Ninety One UK Ltd lowered its position in Alcoa Co. (NYSE:AA - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,786 shares of the industrial products company's stock after selling 47,746 shares during the quarter. Ninety One UK Ltd owned approximately 0.24% of Alcoa worth $14,375,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Neo Ivy Capital Management bought a new stake in Alcoa during the 2nd quarter valued at $27,000. Fairfield Bush & CO. bought a new stake in Alcoa during the 1st quarter valued at $29,000. Tennessee Valley Asset Management Partners bought a new stake in Alcoa during the 4th quarter valued at $31,000. Resurgent Financial Advisors LLC bought a new stake in Alcoa during the 4th quarter valued at $32,000. Finally, Quent Capital LLC boosted its position in Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company's stock valued at $34,000 after acquiring an additional 387 shares in the last quarter.

Analyst Ratings Changes

AA has been the subject of a number of recent analyst reports. B. Riley raised their price objective on Alcoa from $25.00 to $31.00 and gave the stock a "neutral" rating in a research report on Thursday. BMO Capital Markets raised their price objective on Alcoa from $35.00 to $37.00 and gave the stock a "market perform" rating in a research report on Thursday. Jefferies Financial Group raised their price objective on Alcoa from $45.00 to $48.00 and gave the stock a "buy" rating in a research report on Thursday. Bank of America raised their price objective on Alcoa from $31.00 to $32.00 and gave the stock a "neutral" rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their price objective on Alcoa from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Thursday, January 18th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.96.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Alcoa Stock Performance

AA stock traded up $0.06 during midday trading on Friday, reaching $35.53. The stock had a trading volume of 8,014,809 shares, compared to its average volume of 6,457,585. The stock has a market cap of $6.38 billion, a PE ratio of -9.45, a P/E/G ratio of 2.28 and a beta of 2.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.74 and a current ratio of 1.45. The firm has a fifty day simple moving average of $31.14 and a two-hundred day simple moving average of $29.06. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $42.23.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.19). The firm had revenue of $2.60 billion during the quarter, compared to analysts' expectations of $2.55 billion. Alcoa had a negative return on equity of 8.30% and a negative net margin of 6.41%. The business's revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned ($0.23) EPS. As a group, equities research analysts anticipate that Alcoa Co. will post 0.33 EPS for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Alcoa's payout ratio is currently -10.64%.

About Alcoa

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.