Ninety One UK Ltd Has $14.38 Million Holdings in Alcoa Co. (NYSE:AA)

Ninety One UK Ltd cut its stake in Alcoa Co. (NYSE:AA) by 10.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 422,786 shares of the industrial products company’s stock after selling 47,746 shares during the period. Ninety One UK Ltd owned about 0.24% of Alcoa worth $14,375,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in Alcoa during the 2nd quarter valued at $27,000. Fairfield Bush & CO. bought a new position in Alcoa in the 1st quarter valued at $29,000. Tennessee Valley Asset Management Partners bought a new position in Alcoa in the 4th quarter valued at $31,000. Resurgent Financial Advisors LLC bought a new position in Alcoa in the 4th quarter valued at $32,000. Finally, Quent Capital LLC boosted its position in Alcoa by 64.2% in the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after buying an additional 387 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AA. B. Riley increased their price objective on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley raised their price target on Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research report on Thursday, January 18th. Bank of America raised their price target on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. UBS Group raised their price target on Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $32.96.

Alcoa Stock Performance

AA opened at $35.48 on Friday. The business’s 50-day moving average price is $30.97 and its two-hundred day moving average price is $29.02. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $42.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) EPS. On average, equities research analysts anticipate that Alcoa Co. will post 0.33 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, March 4th. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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.