Element Capital Management LLC decreased its stake in Alcoa Inc. (NYSE:AA) by 39.1% during the second quarter, Holdings Channel reports. The institutional investor owned 77,540 shares of the company’s stock after selling 49,727 shares during the period. Element Capital Management LLC’s holdings in Alcoa were worth $719,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. AXA acquired a new position in Alcoa during the first quarter valued at $115,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Alcoa during the second quarter valued at $121,000. Savant Capital LLC increased its position in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares during the last quarter. TRUE Private Wealth Advisors increased its position in Alcoa by 18.3% in the second quarter. TRUE Private Wealth Advisors now owns 13,603 shares of the company’s stock valued at $126,000 after buying an additional 2,103 shares during the last quarter. Finally, D L Carlson Investment Group Inc. acquired a new position in Alcoa during the second quarter valued at $130,000.
Alcoa Inc. (NYSE:AA) traded up 0.69% on Friday, hitting $29.30. 5,337,239 shares of the company’s stock traded hands. Alcoa Inc. has a 12 month low of $20.00 and a 12 month high of $29.99. The stock’s market cap is $12.85 billion. The stock has a 50 day moving average price of $23.73 and a 200-day moving average price of $23.73.
Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The firm earned $5.21 billion during the quarter. During the same period in the previous year, the company earned $0.07 EPS. Alcoa’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities analysts predict that Alcoa Inc. will post $1.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s payout ratio is currently -63.15%.
AA has been the subject of several analyst reports. BMO Capital Markets reiterated a “hold” rating and issued a $27.00 target price on shares of Alcoa in a report on Friday, October 21st. Goldman Sachs Group Inc. initiated coverage on shares of Alcoa in a report on Wednesday, November 2nd. They issued a “sell” rating and a $15.00 target price for the company. Cowen and Company initiated coverage on shares of Alcoa in a report on Monday, November 7th. They issued a “market perform” rating and a $29.00 target price for the company. Bank of America Corp. initiated coverage on shares of Alcoa in a report on Wednesday, November 2nd. They issued an “underperform” rating and a $22.00 target price for the company. Finally, Zacks Investment Research upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Monday, October 31st. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $19.89.
About Alcoa
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
豫公网安备41010502003434号