Alcoa Co. (NYSE:AA) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its position in shares of Alcoa Co. (NYSE:AA) by 12.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,022 shares of the industrial products company’s stock after selling 2,332 shares during the quarter. Federated Hermes Inc.’s holdings in Alcoa were worth $545,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new stake in shares of Alcoa during the fourth quarter worth $31,000. Quent Capital LLC lifted its position in shares of Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock worth $34,000 after buying an additional 387 shares during the last quarter. Bourgeon Capital Management LLC boosted its holdings in shares of Alcoa by 100.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 2,000 shares of the industrial products company’s stock valued at $68,000 after buying an additional 1,000 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Alcoa by 53.0% in the 3rd quarter. Signaturefd LLC now owns 2,661 shares of the industrial products company’s stock valued at $77,000 after buying an additional 922 shares in the last quarter. Finally, Central Bank & Trust Co. grew its position in shares of Alcoa by 190.4% in the 4th quarter. Central Bank & Trust Co. now owns 2,384 shares of the industrial products company’s stock valued at $81,000 after buying an additional 1,563 shares during the last quarter.

Alcoa Stock Performance

NYSE:AA opened at $36.77 on Friday. The firm’s fifty day simple moving average is $32.72 and its 200-day simple moving average is $29.61. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The stock has a market cap of $6.60 billion, a PE ratio of -9.78, a price-to-earnings-growth ratio of 3.51 and a beta of 2.45. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $38.20.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts expect that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.09%. Alcoa’s dividend payout ratio is presently -10.64%.

Insiders Place Their Bets

In other news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The sale was disclosed in a document filed with the SEC, which is available at this link.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AA shares. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Friday, April 19th. Jefferies Financial Group upped their target price on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. UBS Group boosted their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, April 19th. Bank of America increased their price objective on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $33.54.

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.