Greenleaf Trust Reduces Position in Alcoa Co. (NYSE:AA)

Greenleaf Trust lowered its position in Alcoa Co. (NYSE:AA) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,055 shares of the industrial products company’s stock after selling 478 shares during the quarter. Greenleaf Trust’s holdings in Alcoa were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AA. Mountaineer Partners Management LLC raised its position in Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after purchasing an additional 10,534,036 shares during the last quarter. State Street Corp increased its stake in Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after purchasing an additional 1,805,915 shares during the period. Geode Capital Management LLC raised its holdings in shares of Alcoa by 42.0% in the third quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after buying an additional 1,239,479 shares during the last quarter. ARGA Investment Management LP boosted its stake in shares of Alcoa by 1.5% during the third quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock worth $89,267,000 after buying an additional 34,878 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alcoa by 32.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company’s stock worth $72,862,000 after buying an additional 467,986 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on AA shares. Morgan Stanley reduced their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets increased their price target on Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Bank of America raised their target price on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Finally, B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Price Performance

Shares of NYSE AA opened at $36.02 on Thursday. 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 stock has a market cap of $9.30 billion, a price-to-earnings ratio of -225.09, a PEG ratio of 0.20 and a beta of 2.43. The company’s 50-day moving average price is $38.60 and its 200 day moving average price is $37.50. Alcoa Co. has a 52 week low of $24.86 and a 52 week high of $47.77.

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

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.