Atom Investors LP Sells 22,056 Shares of Alcoa $AA

Atom Investors LP lowered its position in Alcoa (NYSE:AA) by 12.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,253 shares of the industrial products company’s stock after selling 22,056 shares during the period. Alcoa comprises about 0.7% of Atom Investors LP’s investment portfolio, making the stock its 26th biggest holding. Atom Investors LP owned 0.06% of Alcoa worth $8,250,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AA. Basepoint Wealth LLC purchased a new position in Alcoa during the fourth quarter valued at $25,000. Advisory Services Network LLC purchased a new position in Alcoa during the third quarter valued at $27,000. Raleigh Capital Management Inc. lifted its position in Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares in the last quarter. CoreCap Advisors LLC lifted its position in Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares in the last quarter.

Alcoa Price Performance

Shares of Alcoa stock opened at $62.88 on Wednesday. The stock’s 50-day simple moving average is $69.11 and its 200-day simple moving average is $61.82. Alcoa has a 52 week low of $27.72 and a 52 week high of $84.38. The company has a market capitalization of $16.59 billion, a price-to-earnings ratio of 15.92 and a beta of 1.56. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the firm earned $2.15 earnings per share. Alcoa’s revenue was down 5.2% on a year-over-year basis. As a group, analysts expect that Alcoa will post 7.89 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is presently 10.13%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AA shares. Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. B. Riley Financial lifted their target price on Alcoa from $78.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, April 7th. Citigroup lifted their target price on Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, March 16th. BMO Capital Markets lifted their target price on Alcoa from $65.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen downgraded Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $68.50.

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.