Alcoa $AA Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in Alcoa (NYSE:AA) by 25.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,711 shares of the industrial products company’s stock after selling 34,850 shares during the quarter. SG Americas Securities LLC’s holdings in Alcoa were worth $6,614,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its position in shares of Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alcoa by 0.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after purchasing an additional 4,624 shares during the period. Invesco Ltd. boosted its holdings in Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after purchasing an additional 12,008 shares during the period. EverSource Wealth Advisors LLC grew its stake in Alcoa by 173.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in Alcoa by 320.1% during the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 205,717 shares in the last quarter.

Alcoa Trading Down 0.1%

AA opened at $54.04 on Monday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. Alcoa has a one year low of $27.72 and a one year high of $84.38. The company has a market cap of $14.26 billion, a P/E ratio of 13.68 and a beta of 1.56. The business’s 50-day simple moving average is $66.62 and its 200-day simple moving average is $62.59.

Alcoa (NYSE:AA) last posted its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.Alcoa’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 EPS. As a group, equities research analysts expect that Alcoa will post 7.54 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is currently 10.13%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Morgan Stanley set a $79.00 price objective on Alcoa in a research report on Thursday, June 11th. UBS Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the stock from $75.00 to $80.00 in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Finally, Argus set a $73.00 price target on shares of Alcoa in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.80.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.