Garner Asset Management Corp Has $273,000 Position in Alcoa Co. (NYSE:AA)

Garner Asset Management Corp reduced its stake in Alcoa Co. (NYSE:AA) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 8,065 shares of the industrial products company’s stock after selling 369 shares during the quarter. Garner Asset Management Corp’s holdings in Alcoa were worth $273,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management lifted its holdings in shares of Alcoa by 252.5% during the first quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock worth $30,000 after buying an additional 644 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in shares of Alcoa during the fourth quarter worth approximately $31,000. Private Wealth Management Group LLC acquired a new position in shares of Alcoa during the fourth quarter worth approximately $33,000. Quent Capital LLC increased its position in shares of Alcoa by 64.2% during the fourth quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 387 shares during the period. Finally, Scarborough Advisors LLC bought a new stake in shares of Alcoa during the fourth quarter valued at approximately $39,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AA. Bank of America lowered their price objective on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Morgan Stanley lowered their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. UBS Group boosted their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, April 19th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, Citigroup boosted their price objective on Alcoa from $32.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $38.80.

Alcoa Stock Performance

Alcoa stock traded down $1.57 during mid-day trading on Thursday, hitting $31.47. 18,439,357 shares of the company were exchanged, compared to its average volume of 6,030,753. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The business has a fifty day moving average of $39.34 and a 200 day moving average of $34.74. Alcoa Co. has a 1-year low of $23.07 and a 1-year high of $45.48.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company posted ($0.35) earnings per share. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts predict that Alcoa Co. will post 0.53 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Monday, August 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.27%. Alcoa’s dividend payout ratio (DPR) is presently -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.