Fisher Asset Management LLC Has $79.90 Million Stake in Alcoa Co. (NYSE:AA)

Fisher Asset Management LLC decreased its stake in shares of Alcoa Co. (NYSE:AA) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,349,845 shares of the industrial products company’s stock after selling 464,170 shares during the quarter. Fisher Asset Management LLC owned about 1.32% of Alcoa worth $79,895,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of AA. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in Alcoa during the 4th quarter valued at about $643,000. Victory Capital Management Inc. grew its holdings in Alcoa by 44.1% during the fourth quarter. Victory Capital Management Inc. now owns 426,793 shares of the industrial products company’s stock worth $14,511,000 after buying an additional 130,660 shares in the last quarter. Van ECK Associates Corp raised its position in Alcoa by 31.5% in the 4th quarter. Van ECK Associates Corp now owns 140,002 shares of the industrial products company’s stock valued at $4,760,000 after buying an additional 33,568 shares during the last quarter. Choreo LLC bought a new position in Alcoa during the 4th quarter valued at $823,000. Finally, Retirement Systems of Alabama boosted its holdings in Alcoa by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 272,527 shares of the industrial products company’s stock worth $9,266,000 after acquiring an additional 712 shares during the last quarter.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was 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 owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Alcoa Stock Performance

Shares of AA opened at $36.77 on Friday. The business has a 50-day moving average of $32.93 and a 200 day moving average of $29.68. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $38.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the business posted ($0.23) EPS. The company’s revenue was down 2.7% compared to the same quarter last year. Analysts forecast that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were paid a $0.10 dividend. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a yield of 1.09%. Alcoa’s dividend payout ratio is currently -10.64%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AA. BMO Capital Markets increased their target price on shares of Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday, April 18th. StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their target price on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley raised Alcoa from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $28.50 to $36.50 in a research report on Monday, April 22nd. Finally, Bank of America upped their price objective on Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.54.

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.