Alcoa Co. (NYSE:AA) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC decreased its position in Alcoa Co. (NYSE:AA) by 36.9% during the 2nd quarter, Holdings Channel reports. The fund owned 35,271 shares of the industrial products company’s stock after selling 20,597 shares during the quarter. AQR Capital Management LLC’s holdings in Alcoa were worth $1,403,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AA. Dimensional Fund Advisors LP raised its holdings in Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after purchasing an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Alcoa during the 2nd quarter valued at about $93,061,000. L1 Capital Pty Ltd acquired a new position in shares of Alcoa during the 1st quarter valued at about $72,658,000. Capital Research Global Investors grew its holdings in shares of Alcoa by 29.8% during the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after purchasing an additional 475,000 shares during the period. Finally, ARGA Investment Management LP boosted its holdings in Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after acquiring an additional 997,912 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AA shares. B. Riley Financial reissued a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. B. Riley increased their price objective on Alcoa from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. 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 lowered Alcoa from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. started coverage on Alcoa in a report on Wednesday, September 25th. They set a “neutral” rating and a $36.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.64.

Alcoa Stock Performance

Shares of NYSE AA opened at $39.25 on Friday. The business has a fifty day simple moving average of $33.55 and a 200 day simple moving average of $36.44. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of -10.44 and a beta of 2.42. Alcoa Co. has a one year low of $23.07 and a one year high of $45.48.

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

Alcoa Dividend Announcement

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

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.