Intech Investment Management LLC Decreases Stock Position in Alcoa Co. (NYSE:AA)

Intech Investment Management LLC trimmed its holdings in shares of Alcoa Co. (NYSE:AA) by 60.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,007 shares of the industrial products company’s stock after selling 10,558 shares during the period. Intech Investment Management LLC’s holdings in Alcoa were worth $265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in Alcoa during the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after buying an additional 393 shares during the period. Quarry LP bought a new position in shares of Alcoa during the 3rd quarter valued at $43,000. Continuum Advisory LLC boosted its stake in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after buying an additional 1,070 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Alcoa by 78.5% in the fourth quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 598 shares during the period. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Down 1.1 %

Shares of AA opened at $33.35 on Thursday. Alcoa Co. has a 12-month low of $27.12 and a 12-month high of $47.77. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $8.63 billion, a PE ratio of -208.41, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The business’s 50 day moving average is $35.07 and its 200 day moving average is $38.09.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts expect that Alcoa Co. will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, March 4th. Alcoa’s dividend payout ratio (DPR) is presently -250.00%.

Analyst Ratings Changes

AA has been the topic of several research reports. Morgan Stanley dropped their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Bank of America lifted their target price on Alcoa to $58.00 and gave the company a “buy” rating in a research report on Friday, January 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $50.17.

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.