Xponance Inc. Lowers Holdings in Alcoa Co. (NYSE:AA)

Xponance Inc. decreased its position in Alcoa Co. (NYSE:AA) by 9.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,961 shares of the industrial products company’s stock after selling 2,118 shares during the period. Xponance Inc.’s holdings in Alcoa were worth $794,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AA. Scarborough Advisors LLC purchased a new stake in Alcoa during the 4th quarter valued at $39,000. Toronto Dominion Bank boosted its position in shares of Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,592 shares during the last quarter. Fifth Third Bancorp increased its holdings in Alcoa by 15.1% in 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 in the last quarter. Blue Trust Inc. raised its position in Alcoa by 536.7% in the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock worth $114,000 after buying an additional 2,426 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in Alcoa during the 1st quarter valued at about $101,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Stock Performance

Shares of AA opened at $39.27 on Friday. The business has a 50-day simple moving average of $32.51 and a two-hundred day simple moving average of $35.97. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $45.48. The stock has a market cap of $7.05 billion, a price-to-earnings ratio of -10.44 and a beta of 2.42.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm posted ($0.35) EPS. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts expect that Alcoa Co. will post 0.56 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AA. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. began coverage on shares of Alcoa in a research note on Wednesday. They set a “neutral” rating and a $36.00 target price for the company. UBS Group raised their price target on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Finally, Bank of America dropped their target price on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.82.

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.