Sei Investments Co. Increases Stock Holdings in Alcoa Co. (NYSE:AA)

Sei Investments Co. increased its stake in shares of Alcoa Co. (NYSE:AA) by 673.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 71,444 shares of the industrial products company’s stock after acquiring an additional 62,201 shares during the period. Sei Investments Co.’s holdings in Alcoa were worth $2,842,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares in the last quarter. Pacer Advisors Inc. boosted its position in Alcoa by 1.4% in the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock valued at $1,073,000 after buying an additional 368 shares during the last quarter. Diversified Trust Co boosted its position in Alcoa by 5.7% in the 1st quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock valued at $262,000 after buying an additional 416 shares during the last quarter. CWM LLC grew its stake in shares of Alcoa by 19.5% during the second quarter. CWM LLC now owns 3,651 shares of the industrial products company’s stock valued at $145,000 after acquiring an additional 596 shares in the last quarter. Finally, New York State Teachers Retirement System increased its position in shares of Alcoa by 0.4% during the first quarter. New York State Teachers Retirement System now owns 153,900 shares of the industrial products company’s stock worth $5,200,000 after acquiring an additional 600 shares during the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on AA shares. B. Riley increased their price target on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Wednesday, September 4th. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price target for the company from $43.00 to $52.00 in a report on Tuesday. B. Riley Financial reissued a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. Finally, StockNews.com lowered shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Alcoa currently has an average rating of “Hold” and a consensus target price of $41.64.

Alcoa Stock Performance

Shares of NYSE AA opened at $38.17 on Friday. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $32.82 and its two-hundred day moving average price is $36.15. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $45.48. The stock has a market capitalization of $6.85 billion, a P/E ratio of -10.15 and a beta of 2.42.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm posted ($0.35) EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Alcoa Co. will post 0.56 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s payout ratio is -10.64%.

Alcoa 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.