American International Group Inc. Decreases Stock Position in Alcoa Co. (NYSE:AA)

American International Group Inc. reduced its stake in Alcoa Co. (NYSE:AA) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,069 shares of the industrial products company’s stock after selling 10,344 shares during the period. American International Group Inc. owned approximately 0.13% of Alcoa worth $8,196,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. lifted its stake in Alcoa by 1.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock worth $900,000 after purchasing an additional 338 shares during the last quarter. Quent Capital LLC increased its holdings in Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 387 shares during the period. Yousif Capital Management LLC increased its holdings in Alcoa by 0.7% during the 4th quarter. Yousif Capital Management LLC now owns 87,960 shares of the industrial products company’s stock valued at $2,991,000 after purchasing an additional 574 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Alcoa by 56.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 576 shares during the period. Finally, Apollon Wealth Management LLC grew its holdings in shares of Alcoa by 8.8% during the 4th quarter. Apollon Wealth Management LLC now owns 7,758 shares of the industrial products company’s stock worth $264,000 after acquiring an additional 628 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AA shares. BMO Capital Markets boosted their price target on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. B. Riley boosted their target price on shares of Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, April 18th. UBS Group upped their price objective on Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research note on Friday, April 19th. Bank of America upped their price objective on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Finally, Morgan Stanley upgraded Alcoa from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $28.50 to $36.50 in a research note on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and an average price target of $35.04.

Alcoa Price Performance

Shares of AA opened at $37.49 on Thursday. The firm has a market capitalization of $6.73 billion, a PE ratio of -9.97 and a beta of 2.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $45.48. The company’s fifty day moving average price is $39.01 and its 200-day moving average price is $33.16.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. Alcoa’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share. On average, equities research analysts predict that Alcoa Co. will post 0.2 EPS for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.07%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

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.