Alcoa Co. (NYSE:AA) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC cut its holdings in shares of Alcoa Co. (NYSE:AA) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,388,690 shares of the industrial products company’s stock after selling 33,265 shares during the period. Douglas Lane & Associates LLC owned approximately 0.54% of Alcoa worth $52,465,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 344 shares during the last quarter. CreativeOne Wealth LLC grew its position in Alcoa by 4.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company’s stock worth $352,000 after acquiring an additional 360 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Alcoa by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock valued at $1,073,000 after purchasing an additional 368 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Alcoa by 15.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 459 shares during the last quarter. Finally, Eads & Heald Wealth Management boosted its stake in Alcoa by 6.6% in the third quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company’s stock worth $324,000 after purchasing an additional 517 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the sale, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of research reports. BMO Capital Markets upped their target price on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Wednesday, October 23rd. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $46.45.

Alcoa Price Performance

AA traded down $0.41 on Wednesday, hitting $35.83. 2,074,561 shares of the stock were exchanged, compared to its average volume of 4,307,731. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa Co. has a 12 month low of $24.86 and a 12 month high of $47.77. The firm has a market capitalization of $9.26 billion, a price-to-earnings ratio of -20.36, a PEG ratio of 0.79 and a beta of 2.47. The business has a 50-day moving average of $41.56 and a two-hundred day moving average of $37.90.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. Alcoa’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.14) EPS. Sell-side analysts forecast that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is currently -22.73%.

Alcoa Company 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.