Alcoa Co. (NYSE:AA) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in Alcoa Co. (NYSE:AA) by 5.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,430 shares of the industrial products company’s stock after selling 7,182 shares during the period. Wellington Management Group LLP’s holdings in Alcoa were worth $5,263,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Weiss Asset Management LP acquired a new stake in Alcoa in the 3rd quarter valued at about $1,050,000. Temasek Holdings Private Ltd acquired a new stake in shares of Alcoa in the third quarter valued at approximately $13,481,000. State Street Corp lifted its position in Alcoa by 23.3% during the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after buying an additional 1,805,915 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Alcoa during the third quarter worth $253,000. Finally, Quarry LP purchased a new stake in Alcoa in the 3rd quarter valued at $43,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Alcoa Price Performance

AA opened at $38.46 on Tuesday. The stock’s 50-day moving average price is $42.63 and its 200 day moving average price is $38.22. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of -21.85, a PEG ratio of 0.79 and a beta of 2.44. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.14) earnings per share. As a group, sell-side analysts expect that Alcoa Co. will post 0.9 earnings per share for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Wall Street Analyst Weigh In

AA has been the topic of several analyst reports. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Wednesday, October 23rd. Bank of America boosted their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Thursday, November 28th. BMO Capital Markets raised their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. UBS Group upped their price objective on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the stock from $41.00 to $50.00 in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $46.73.

Alcoa Company 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.