Alcoa Co. (NYSE:AA) Shares Sold by JTC Employer Solutions Trustee Ltd

JTC Employer Solutions Trustee Ltd cut its position in shares of Alcoa Co. (NYSE:AA) by 47.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,437 shares of the industrial products company’s stock after selling 45,000 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Alcoa were worth $1,676,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Douglas Lane & Associates LLC increased its stake in Alcoa by 12.9% during the first quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock worth $45,675,000 after acquiring an additional 154,403 shares during the last quarter. ARGA Investment Management LP grew its stake in shares of Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after buying an additional 997,912 shares in the last quarter. Raymond James & Associates grew its stake in shares of Alcoa by 3,731.1% in the fourth quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock valued at $27,190,000 after buying an additional 778,831 shares in the last quarter. Cloverfields Capital Group LP acquired a new stake in shares of Alcoa in the fourth quarter valued at about $865,000. Finally, Nordea Investment Management AB grew its stake in shares of Alcoa by 132.2% in the fourth quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock valued at $3,824,000 after buying an additional 63,816 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Alcoa Stock Performance

Shares of NYSE AA traded up $1.55 during mid-day trading on Wednesday, hitting $42.38. The company had a trading volume of 4,073,866 shares, compared to its average volume of 5,919,621. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -11.27 and a beta of 2.45. Alcoa Co. has a 12 month low of $23.07 and a 12 month high of $45.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93. The firm’s 50 day simple moving average is $39.84 and its two-hundred day simple moving average is $34.13.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the business posted ($0.23) EPS. As a group, equities research analysts forecast that Alcoa Co. will post 1.23 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.94%. The ex-dividend date was Monday, May 20th. Alcoa’s dividend payout ratio is currently -10.64%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AA. Jefferies Financial Group increased their target price on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $36.50 to $50.00 in a report on Friday, June 21st. Citigroup increased their price target on Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. B. Riley increased their price target on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, April 18th. Finally, BMO Capital Markets increased their price target on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.33.

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.