Axa S.A. cut its holdings in shares of Alcoa Co. (NYSE:AA – Get Rating) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,506 shares of the industrial products company’s stock after selling 2,453 shares during the period. Axa S.A.’s holdings in Alcoa were worth $892,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. Moors & Cabot Inc. lifted its holdings in shares of Alcoa by 2.2% during the first quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 185 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Alcoa by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock valued at $2,206,000 after acquiring an additional 284 shares during the period. Securian Asset Management Inc. lifted its holdings in Alcoa by 1.8% in the second quarter. Securian Asset Management Inc. now owns 16,815 shares of the industrial products company’s stock valued at $766,000 after acquiring an additional 296 shares during the period. AE Wealth Management LLC lifted its holdings in Alcoa by 3.3% in the second quarter. AE Wealth Management LLC now owns 9,390 shares of the industrial products company’s stock valued at $428,000 after acquiring an additional 302 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its holdings in Alcoa by 4.0% in the second quarter. Kestra Private Wealth Services LLC now owns 7,953 shares of the industrial products company’s stock valued at $362,000 after acquiring an additional 305 shares during the period.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the company. BMO Capital Markets lowered their target price on Alcoa from $55.00 to $50.00 and set a “market perform” rating on the stock in a report on Thursday, January 19th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, February 9th. B. Riley upped their price target on Alcoa from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Thursday, January 19th. Morgan Stanley reduced their price target on Alcoa from $56.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, January 20th. Finally, UBS Group upped their price target on Alcoa from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 1st. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Alcoa presently has a consensus rating of “Hold” and a consensus target price of $69.42.
Alcoa Price Performance
Alcoa (NYSE:AA – Get Rating) last posted its quarterly earnings data on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.15. The business had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.70 billion. Alcoa had a positive return on equity of 13.17% and a negative net margin of 0.82%. The company’s revenue for the quarter was down 20.3% on a year-over-year basis. During the same period last year, the company earned $2.50 EPS. Equities analysts forecast that Alcoa Co. will post 2.41 EPS for the current year.
Alcoa Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Tuesday, March 7th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Monday, March 6th. Alcoa’s payout ratio is -47.06%.
Insider Activity
In other Alcoa news, CFO William F. Oplinger sold 134,444 shares of the firm’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $53.04, for a total transaction of $7,130,909.76. Following the transaction, the chief financial officer now directly owns 71,560 shares in the company, valued at approximately $3,795,542.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alcoa news, EVP Harden Sonya Elam sold 4,514 shares of Alcoa stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $51.87, for a total transaction of $234,141.18. Following the completion of the sale, the executive vice president now owns 29,427 shares of the company’s stock, valued at approximately $1,526,378.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO William F. Oplinger sold 134,444 shares of Alcoa stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $53.04, for a total value of $7,130,909.76. Following the sale, the chief financial officer now directly owns 71,560 shares of the company’s stock, valued at approximately $3,795,542.40. The disclosure for this sale can be found here. Insiders sold 210,188 shares of company stock valued at $11,017,365 in the last ninety days.
About Alcoa
Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.
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