Ninety One UK Ltd Sells 47,746 Shares of Alcoa Co. (NYSE:AA)

Ninety One UK Ltd cut its stake in shares of Alcoa Co. (NYSE:AA) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 422,786 shares of the industrial products company’s stock after selling 47,746 shares during the period. Ninety One UK Ltd’s holdings in Alcoa were worth $14,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates increased its position in shares of Alcoa by 3,731.1% in the fourth quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company’s stock worth $27,190,000 after purchasing an additional 778,831 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Alcoa by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock valued at $35,874,000 after acquiring an additional 54,876 shares during the last quarter. Nordea Investment Management AB grew its position in Alcoa by 132.2% during the fourth quarter. Nordea Investment Management AB now owns 112,082 shares of the industrial products company’s stock valued at $3,824,000 after acquiring an additional 63,816 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Alcoa during the fourth quarter valued at approximately $227,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Alcoa by 90.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 61,801 shares of the industrial products company’s stock valued at $1,796,000 after acquiring an additional 29,431 shares during the last quarter.

Alcoa Trading Down 0.2 %

Shares of AA stock opened at $35.48 on Friday. The stock has a fifty day moving average of $30.97 and a 200 day moving average of $29.02. Alcoa Co. has a 52 week low of $23.07 and a 52 week high of $42.23. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.30% and a negative net margin of 6.41%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the previous year, the business earned ($0.23) EPS. The business’s revenue was down 2.7% compared to the same quarter last year. As a group, research analysts predict that Alcoa Co. will post 0.33 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AA. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Morgan Stanley increased their price target on shares of Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research report on Thursday, January 18th. B. Riley increased their price objective on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group increased their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday. Finally, StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $32.96.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

About Alcoa

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.