Legal & General Group Plc Sells 14,005 Shares of Alcoa $AA

Legal & General Group Plc decreased its holdings in Alcoa (NYSE:AA) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 374,028 shares of the industrial products company’s stock after selling 14,005 shares during the quarter. Legal & General Group Plc owned about 0.14% of Alcoa worth $19,876,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of 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 purchasing an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alcoa by 0.7% during 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 buying an additional 4,624 shares during the period. Invesco Ltd. raised its stake in Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock worth $18,902,000 after buying an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake 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 worth $60,000 after buying an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Alcoa by 320.1% in the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after buying an additional 205,717 shares during the period.

Alcoa Stock Down 0.1%

Alcoa stock opened at $77.59 on Monday. Alcoa has a one year low of $25.83 and a one year high of $77.72. The stock has a fifty day moving average of $66.66 and a 200 day moving average of $58.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The stock has a market cap of $20.48 billion, a PE ratio of 19.64 and a beta of 1.56.

Alcoa (NYSE:AA) last announced its earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the business posted $2.15 earnings per share. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Alcoa will post 7.95 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Investors of record on Tuesday, May 19th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, May 19th. Alcoa’s payout ratio is 10.13%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets upped their target price on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, April 9th. Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $64.00 to $80.00 in a research note on Thursday, April 9th. Argus set a $73.00 price target on Alcoa in a research report on Monday, April 27th. JPMorgan Chase & Co. upped their price target on Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, B. Riley Financial increased their price objective on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, April 7th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Alcoa has an average rating of “Hold” and an average target price of $68.60.

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.