Alcoa $AA Shares Sold by ARGA Investment Management LP

ARGA Investment Management LP reduced its holdings in shares of Alcoa (NYSE:AA) by 13.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 598,004 shares of the industrial products company’s stock after selling 91,213 shares during the period. Alcoa accounts for about 1.3% of ARGA Investment Management LP’s investment portfolio, making the stock its 18th biggest holding. ARGA Investment Management LP’s holdings in Alcoa were worth $39,666,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its stake in shares of Alcoa by 1,098.0% in the first 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 raised its stake 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 acquiring an additional 4,624 shares in the last quarter. Invesco Ltd. boosted its holdings in Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after purchasing an additional 12,008 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,295 shares during the period. Finally, First Trust Advisors LP grew its stake in Alcoa by 320.1% during the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 205,717 shares in the last quarter.

Alcoa News Roundup

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Wells Fargo raised its price target on Alcoa to $72 from $71 and reiterated an overweight rating, signaling confidence in the stock’s longer-term potential.
• Neutral Sentiment: J.P. Morgan initiated/maintained a hold view and set a new $55 price target, which is above the recent trading level but still suggests limited near-term conviction. Alcoa (AA) Receives a Hold from J.P. Morgan
• Neutral Sentiment: Alcoa is expected to report earnings soon, keeping the stock in focus for a potential catalyst if results or guidance surprise investors. Alcoa (AA) Expected to Post Earnings on Thursday
• Negative Sentiment: Zacks Research downgraded Alcoa from hold to strong sell, adding to bearish sentiment around the name. Alcoa Downgraded by Zacks Research
• Negative Sentiment: Bank of America cut its price target to $51 from $57 and kept an underperform rating, reflecting a more cautious view on valuation and near-term fundamentals. Alcoa (NYSE:AA) Price Target Lowered to $51.00 at Bank of America
• Negative Sentiment: J.P. Morgan also lowered its price target to $55 from $70 while keeping a neutral rating, reinforcing the recent downgrade trend. Alcoa price target lowered by JPMorgan
• Negative Sentiment: Alcoa was added to Zacks’ Strong Sell list, which may weigh on sentiment as investors look for signs of weakening expectations. New Strong Sell Stocks for July 9th
• Negative Sentiment: Morgan Stanley assigned an equal weight rating, which adds to the overall mixed-to-cautious analyst backdrop. Alcoa Receives Equal Weight Rating from Morgan Stanley

Alcoa Price Performance

Shares of NYSE AA opened at $48.69 on Friday. The stock’s 50-day simple moving average is $63.28 and its 200-day simple moving average is $62.68. The firm has a market capitalization of $12.85 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 0.49 and a beta of 1.63. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. 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 announced 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 business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period last year, the company earned $2.15 earnings per share. As a group, equities research analysts forecast that Alcoa will post 7.41 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is currently 10.13%.

Wall Street Analyst Weigh In

AA has been the topic of several recent research reports. Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. B. Riley Financial lowered their price objective on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday. BMO Capital Markets raised their target price on shares of Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, April 9th. JPMorgan Chase & Co. decreased their price target on shares of Alcoa from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, Citigroup boosted their price target on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $64.91.

Alcoa Company 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.