Alcoa Co. (NYSE:AA) Stock Position Reduced by Stifel Financial Corp

Stifel Financial Corp decreased its position in Alcoa Co. (NYSE:AA) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,171 shares of the industrial products company’s stock after selling 1,816 shares during the quarter. Stifel Financial Corp’s holdings in Alcoa were worth $2,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Newbridge Financial Services Group Inc. bought a new position in Alcoa in the second quarter worth about $27,000. UMB Bank n.a. raised its position in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares during the period. Quarry LP bought a new stake in shares of Alcoa in the 3rd quarter worth approximately $43,000. Millburn Ridgefield Corp acquired a new position in Alcoa during the 3rd quarter valued at approximately $89,000. Finally, Fifth Third Bancorp grew its stake in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after buying an additional 309 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Stock Down 2.9 %

AA opened at $37.31 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The company has a market capitalization of $9.64 billion, a PE ratio of -21.20, a P/E/G ratio of 0.79 and a beta of 2.44. The stock’s fifty day moving average is $42.62 and its 200-day moving average is $38.17. Alcoa Co. has a one year low of $24.86 and a one year high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the previous year, the business earned ($1.14) earnings per share. Alcoa’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Alcoa Co. will post 0.9 EPS for the current fiscal 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 given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 1.07%. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AA. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, October 23rd. B. Riley Financial restated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. Finally, BMO Capital Markets boosted their price target on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa presently has a consensus rating of “Moderate Buy” and an average target price of $46.73.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is owned by corporate insiders.

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.