BW Gestao de Investimentos Ltda. Cuts Holdings in Alcoa $AA

BW Gestao de Investimentos Ltda. reduced its position in Alcoa (NYSE:AA) by 88.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,455 shares of the industrial products company’s stock after selling 612,545 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Alcoa were worth $4,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Basepoint Wealth LLC purchased a new position in shares of Alcoa in the 4th quarter worth $25,000. Advisory Services Network LLC purchased a new position in shares of Alcoa in the 3rd quarter worth $27,000. Raleigh Capital Management Inc. raised its position in shares of Alcoa by 52,500.0% in the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after buying an additional 525 shares during the period. CoreCap Advisors LLC raised its position in shares of Alcoa by 74.1% in the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares during the period. Finally, NewEdge Advisors LLC raised its position in shares of Alcoa by 91.9% in the 3rd quarter. NewEdge Advisors LLC now owns 1,161 shares of the industrial products company’s stock worth $38,000 after buying an additional 556 shares during the period.

Alcoa Stock Up 7.8%

NYSE:AA opened at $83.84 on Wednesday. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 21.22 and a beta of 1.56. Alcoa has a one year low of $25.94 and a one year high of $84.38. The stock has a 50-day simple moving average of $67.05 and a 200 day simple moving average of $59.18. 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 (NYSE:AA) last posted its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the business posted $2.15 earnings per share. Sell-side analysts predict that Alcoa will post 7.95 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.5%. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AA shares. UBS Group raised Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $75.00 to $80.00 in a research report on Friday, May 22nd. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $64.00 to $80.00 in a research report on Thursday, April 9th. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Finally, Citigroup increased their price target on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a report on Monday, March 16th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Alcoa presently has an average rating of “Hold” and a consensus price target of $68.60.

About Alcoa

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.