Victory Capital Management Inc. lessened its position in Alcoa Co. (NYSE:AA – Get Rating) by 1.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 392,597 shares of the industrial products company’s stock after selling 6,988 shares during the quarter. Victory Capital Management Inc. owned approximately 0.21% of Alcoa worth $33,667,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Hanseatic Management Services Inc. acquired a new stake in Alcoa in the 1st quarter valued at approximately $25,000. CWM LLC acquired a new stake in Alcoa in the 4th quarter valued at approximately $30,000. Retirement Group LLC raised its position in Alcoa by 100.0% in the 4th quarter. Retirement Group LLC now owns 500 shares of the industrial products company’s stock valued at $30,000 after buying an additional 250 shares during the last quarter. Dupont Capital Management Corp bought a new position in Alcoa in the first quarter valued at approximately $58,000. Finally, Covestor Ltd bought a new position in Alcoa in the fourth quarter valued at approximately $58,000.
Wall Street Analyst Weigh In
A number of research firms have weighed in on AA. B. Riley decreased their price target on Alcoa from $84.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, June 28th. Morgan Stanley decreased their price target on Alcoa from $55.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, July 25th. BMO Capital Markets decreased their price target on Alcoa from $57.00 to $55.00 in a research note on Thursday, July 21st. Credit Suisse Group decreased their price target on Alcoa from $82.00 to $63.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Finally, The Goldman Sachs Group reduced their target price on Alcoa from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, July 22nd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus price target of $78.64.
Alcoa Stock Performance
Alcoa (NYSE:AA – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.71 by ($1.04). The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 earnings per share. Research analysts expect that Alcoa Co. will post 6.8 EPS for the current year.
Alcoa Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, August 8th. This represents a $0.40 annualized dividend and a yield of 0.83%. Alcoa’s dividend payout ratio is presently 7.86%.
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.
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