Thrivent Financial for Lutherans Sells 122,811 Shares of Alcoa $AA

Thrivent Financial for Lutherans lessened its stake in Alcoa (NYSE:AA) by 57.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,364 shares of the industrial products company’s stock after selling 122,811 shares during the period. Thrivent Financial for Lutherans’ holdings in Alcoa were worth $2,939,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in Alcoa by 1,098.0% in the 1st 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of 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. Janney Montgomery Scott LLC grew its stake in Alcoa by 24.8% in the second quarter. Janney Montgomery Scott LLC now owns 23,819 shares of the industrial products company’s stock worth $703,000 after purchasing an additional 4,732 shares in the last quarter. Truist Financial Corp increased its holdings in Alcoa by 15.9% during the 2nd quarter. Truist Financial Corp now owns 10,472 shares of the industrial products company’s stock worth $309,000 after purchasing an additional 1,440 shares during the period. Finally, DAVENPORT & Co LLC purchased a new position in Alcoa during the 2nd quarter worth $344,000.

Alcoa Stock Up 5.4%

Shares of Alcoa stock opened at $62.38 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 1.45 and a debt-to-equity ratio of 0.40. The company has a market cap of $16.15 billion, a P/E ratio of 14.11 and a beta of 1.91. The firm’s 50 day moving average price is $55.44 and its 200-day moving average price is $41.69. Alcoa has a 52-week low of $21.53 and a 52-week high of $66.95.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AA shares. UBS Group upped their target price on Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. BMO Capital Markets upped their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. Wells Fargo & Company cut their target price on shares of Alcoa from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Zacks Research upgraded shares of Alcoa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.