Tidal Investments LLC Sells 8,713 Shares of Alcoa Co. (NYSE:AA)

Tidal Investments LLC reduced its stake in Alcoa Co. (NYSE:AA) by 21.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,231 shares of the industrial products company’s stock after selling 8,713 shares during the period. Tidal Investments LLC’s holdings in Alcoa were worth $1,205,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Alcoa in the 3rd quarter valued at about $239,000. Teachers Retirement System of The State of Kentucky increased its stake in shares of Alcoa by 37.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 80,831 shares of the industrial products company’s stock worth $3,118,000 after purchasing an additional 21,830 shares during the period. Geode Capital Management LLC lifted its holdings in Alcoa by 42.0% during the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock worth $161,838,000 after purchasing an additional 1,239,479 shares during the last quarter. Impala Asset Management LLC bought a new stake in Alcoa in the 3rd quarter valued at $6,366,000. Finally, Continuum Advisory LLC grew its holdings in Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after buying an additional 1,070 shares in the last quarter. 82.39% of the stock is owned by institutional investors.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.08% of the company’s stock.

Alcoa Trading Down 2.9 %

Shares of 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. Alcoa Co. has a 52-week low of $24.86 and a 52-week high of $47.77. The firm has a market cap of $9.64 billion, a price-to-earnings ratio of -21.20, a PEG ratio of 0.79 and a beta of 2.44. The business’s fifty day moving average is $42.62 and its 200-day moving average is $38.17.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.14) earnings per share. Equities analysts anticipate that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s payout ratio is -22.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AA. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, October 23rd. BMO Capital Markets increased their target price on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. UBS Group lifted their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Bank of America increased their price target on Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 28th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.73.

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.