Alcoa $AA Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Alcoa (NYSE:AA) by 57.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 89,364 shares of the industrial products company’s stock after selling 122,811 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Alcoa were worth $2,939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. IFP Advisors Inc grew its position in Alcoa by 1,096.0% during the 2nd quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Alcoa during the third quarter valued at $29,000. Horrell Capital Management Inc. acquired a new position in shares of Alcoa in the 2nd quarter valued at $30,000. Orion Capital Management LLC acquired a new position in shares of Alcoa in the 3rd quarter valued at $33,000. Finally, Westfuller Advisors LLC purchased a new position in Alcoa in the 3rd quarter worth $35,000.

Alcoa Stock Performance

NYSE AA opened at $62.38 on Tuesday. The stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 14.11 and a beta of 1.91. Alcoa has a twelve month low of $21.53 and a twelve month high of $66.95. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average of $55.44 and a 200 day moving average of $41.69.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, January 22nd. The industrial products company reported $1.26 EPS for the quarter, beating the consensus estimate of $0.95 by $0.31. The company had revenue of $6.75 billion for the quarter, compared to analyst estimates of $3.28 billion. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.Alcoa’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. Sell-side analysts anticipate that Alcoa will post 4.43 EPS for the current fiscal year.

Analyst Ratings Changes

AA has been the topic of a number of research reports. Argus set a $45.00 price objective on Alcoa in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. JPMorgan Chase & Co. restated an “underweight” rating and set a $50.00 price objective (up from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. HSBC increased their price objective on shares of Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Finally, UBS Group boosted their target price on shares of Alcoa from $42.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.25.

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.