Occudo Quantitative Strategies LP Sells 13,529 Shares of Alcoa Co. (NYSE:AA)

Occudo Quantitative Strategies LP cut its position in Alcoa Co. (NYSE:AA - Free Report) by 43.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 17,821 shares of the industrial products company's stock after selling 13,529 shares during the period. Occudo Quantitative Strategies LP's holdings in Alcoa were worth $673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. HB Wealth Management LLC purchased a new position in shares of Alcoa in the 4th quarter worth $211,000. Union Bancaire Privee UBP SA bought a new stake in Alcoa during the 4th quarter worth approximately $454,000. Ausbil Investment Management Ltd purchased a new position in Alcoa during the fourth quarter valued at approximately $429,000. Rheos Capital Works Inc. bought a new stake in shares of Alcoa during the 4th quarter valued at $2,002,000. Finally, Corient Private Wealth LLC lifted its stake in shares of Alcoa by 4.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,602 shares of the industrial products company's stock valued at $816,000 after buying an additional 948 shares in the last quarter. Institutional investors own 82.39% of the company's stock.

Alcoa Trading Up 2.9%

Shares of NYSE:AA traded up $0.84 during trading on Friday, hitting $29.51. The company had a trading volume of 8,792,562 shares, compared to its average volume of 5,519,684. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of -184.42, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. The company has a fifty day simple moving average of $27.80 and a two-hundred day simple moving average of $34.91. Alcoa Co. has a one year low of $21.53 and a one year high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

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

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.36%. Alcoa's payout ratio is 12.05%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AA shares. Morgan Stanley cut their price target on Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. StockNews.com upgraded Alcoa from a "hold" rating to a "buy" rating in a research note on Friday, April 18th. JPMorgan Chase & Co. reduced their price objective 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. Barclays boosted their target price on shares of Alcoa to $31.00 and gave the stock a "hold" rating in a report on Friday. Finally, Bank of America restated an "underperform" rating and set a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $43.08.

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.