Claro Advisors LLC Sells 13,800 Shares of Alcoa $AA

Claro Advisors LLC lessened its stake in shares of Alcoa (NYSE:AA) by 51.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,066 shares of the industrial products company’s stock after selling 13,800 shares during the period. Claro Advisors LLC’s holdings in Alcoa were worth $386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AA. IFP Advisors Inc increased its stake in Alcoa by 1,096.0% in the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 822 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in shares of Alcoa in the 1st quarter valued at about $40,000. Quarry LP bought a new stake in Alcoa in the 1st quarter valued at about $57,000. Banque Transatlantique SA bought a new stake in Alcoa in the 1st quarter valued at about $74,000. Finally, Hantz Financial Services Inc. raised its stake in Alcoa by 357.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock worth $78,000 after buying an additional 2,076 shares during the period.

Alcoa Stock Performance

NYSE AA opened at $36.75 on Friday. The company has a fifty day moving average price of $34.64 and a 200-day moving average price of $30.86. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.20 and a beta of 2.26. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 0.91. Alcoa has a 1 year low of $21.53 and a 1 year high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Tuesday, November 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Tuesday, November 4th. Alcoa’s dividend payout ratio (DPR) is presently 9.24%.

Analysts Set New Price Targets

AA has been the topic of a number of research reports. HSBC upped their target price on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Morgan Stanley set a $43.50 price objective on shares of Alcoa in a research note on Friday, October 24th. Bank of America boosted their target price on shares of Alcoa from $26.00 to $27.00 and gave the stock an “underperform” rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Wells Fargo & Company began coverage on Alcoa in a research note on Tuesday, October 7th. They set an “overweight” rating and a $40.00 price target for the company. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $42.35.

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.