Price T Rowe Associates Inc. MD Sells 1,891,965 Shares of Alcoa Co. (NYSE:AA)

Price T Rowe Associates Inc. MD lowered its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 77.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 553,045 shares of the industrial products company's stock after selling 1,891,965 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.21% of Alcoa worth $20,896,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Alcoa in the fourth quarter valued at about $259,273,000. ARGA Investment Management LP lifted its holdings in shares of Alcoa by 29.6% during the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company's stock valued at $113,276,000 after purchasing an additional 684,505 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Alcoa by 488.2% in the 4th quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company's stock valued at $30,320,000 after purchasing an additional 666,117 shares during the period. Victory Capital Management Inc. increased its stake in Alcoa by 96.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company's stock worth $40,240,000 after purchasing an additional 522,039 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Alcoa by 395.3% during the 4th quarter. Federated Hermes Inc. now owns 454,507 shares of the industrial products company's stock worth $17,171,000 after buying an additional 362,737 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Alcoa Stock Down 1.6 %

Shares of Alcoa stock traded down $0.39 on Wednesday, reaching $24.46. 1,019,683 shares of the company were exchanged, compared to its average volume of 5,717,402. Alcoa Co. has a one year low of $21.53 and a one year high of $47.77. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $28.53 and a 200 day moving average of $35.69. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -152.43, a PEG ratio of 0.19 and a beta of 2.29.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $1.73 by $0.42. The firm 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%. On average, equities research analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.64%. Alcoa's dividend payout ratio is 12.05%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AA. HC Wainwright upped their price target on shares of Alcoa to $90.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Morgan Stanley reduced their target price on shares of Alcoa from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Bank of America reissued an "underperform" rating and issued a $26.00 price target (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. BMO Capital Markets upped their price objective on Alcoa to $43.00 and gave the stock a "hold" rating in a research report on Friday, January 17th. Finally, UBS Group dropped their target price on Alcoa from $47.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.17.

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.