Federation des caisses Desjardins du Quebec Cuts Holdings in Alcoa $AA

Federation des caisses Desjardins du Quebec lowered its holdings in Alcoa (NYSE:AA) by 11.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 172,039 shares of the industrial products company’s stock after selling 23,131 shares during the quarter. Federation des caisses Desjardins du Quebec’s holdings in Alcoa were worth $5,247,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in Alcoa by 61.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 16,914 shares of the industrial products company’s stock worth $516,000 after acquiring an additional 6,447 shares during the period. GAMMA Investing LLC increased its stake in Alcoa by 58.8% in the 1st quarter. GAMMA Investing LLC now owns 2,298 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 851 shares in the last quarter. SG Americas Securities LLC increased its position in Alcoa by 630.4% during the first quarter. SG Americas Securities LLC now owns 28,955 shares of the industrial products company’s stock worth $883,000 after buying an additional 24,991 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Alcoa by 10.6% during the first quarter. Janney Montgomery Scott LLC now owns 19,087 shares of the industrial products company’s stock worth $582,000 after buying an additional 1,831 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Alcoa by 58.0% in the first quarter. QRG Capital Management Inc. now owns 11,236 shares of the industrial products company’s stock valued at $343,000 after purchasing an additional 4,125 shares during the period.

Alcoa Trading Up 0.6%

NYSE AA opened at $31.29 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $8.10 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 0.18 and a beta of 2.26. Alcoa has a 1-year low of $21.53 and a 1-year high of $47.77. The firm’s fifty day simple moving average is $30.58 and its 200-day simple moving average is $29.49.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 16th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.29 by $0.10. The firm had revenue of $3.02 billion for the quarter, compared to the consensus estimate of $2.96 billion. Alcoa had a net margin of 7.86% and a return on equity of 19.18%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 earnings per share. As a group, sell-side analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, August 12th. Alcoa’s dividend payout ratio is 10.44%.

Analyst Ratings Changes

AA has been the subject of a number of recent analyst reports. Barclays lifted their price objective on Alcoa to $31.00 and gave the company a “hold” rating in a research report on Friday, May 16th. Morgan Stanley lowered their price objective on Alcoa from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, July 18th. B. Riley lowered their target price on Alcoa from $38.00 to $37.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Citigroup upgraded Alcoa to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, July 8th. Finally, Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $41.67.

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.