SG Americas Securities LLC Sells 34,850 Shares of Alcoa $AA

SG Americas Securities LLC decreased its position in shares of Alcoa (NYSE:AA) by 25.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 99,711 shares of the industrial products company’s stock after selling 34,850 shares during the period. SG Americas Securities LLC’s holdings in Alcoa were worth $6,614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB grew its position in Alcoa by 187.7% during the 4th quarter. Nordea Investment Management AB now owns 408,624 shares of the industrial products company’s stock worth $21,902,000 after purchasing an additional 266,574 shares during the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Alcoa in the third quarter worth $5,606,000. Moran Wealth Management LLC purchased a new position in shares of Alcoa in the fourth quarter worth $2,631,000. Regal Partners Ltd lifted its stake in shares of Alcoa by 7.0% during the third quarter. Regal Partners Ltd now owns 451,940 shares of the industrial products company’s stock worth $14,864,000 after buying an additional 29,612 shares during the period. Finally, Merit Financial Group LLC lifted its stake in shares of Alcoa by 114.2% during the fourth quarter. Merit Financial Group LLC now owns 28,945 shares of the industrial products company’s stock worth $1,538,000 after buying an additional 15,432 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company cut their target price on Alcoa from $82.00 to $71.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lifted their price target on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, UBS Group upgraded Alcoa from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $80.00 in a research note on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.80.

Alcoa Stock Down 0.1%

Shares of NYSE AA opened at $54.04 on Monday. Alcoa has a 12-month low of $27.72 and a 12-month high of $84.38. The stock has a market cap of $14.26 billion, a PE ratio of 13.68 and a beta of 1.56. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average of $66.62 and a 200 day moving average of $62.59.

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

Alcoa Announces Dividend

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

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.