Kestra Private Wealth Services LLC Has $689,000 Stock Position in Alcoa Co. (NYSE:AA)

Kestra Private Wealth Services LLC lowered its holdings in shares of Alcoa Co. (NYSE:AAGet Rating) by 7.4% in the first quarter, Holdings Channel.com reports. The institutional investor owned 7,648 shares of the industrial products company’s stock after selling 614 shares during the period. Kestra Private Wealth Services LLC’s holdings in Alcoa were worth $689,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Moors & Cabot Inc. boosted its stake in shares of Alcoa by 2.2% in the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock valued at $788,000 after purchasing an additional 185 shares in the last quarter. Hanseatic Management Services Inc. acquired a new stake in Alcoa in the first quarter valued at approximately $25,000. Arizona State Retirement System grew its stake in shares of Alcoa by 0.6% during the first quarter. Arizona State Retirement System now owns 50,577 shares of the industrial products company’s stock worth $4,553,000 after buying an additional 283 shares during the last quarter. Koshinski Asset Management Inc. grew its stake in shares of Alcoa by 27.3% during the first quarter. Koshinski Asset Management Inc. now owns 1,393 shares of the industrial products company’s stock worth $125,000 after buying an additional 299 shares during the last quarter. Finally, Fairfield Bush & CO. acquired a new position in shares of Alcoa during the first quarter worth $29,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley upgraded Alcoa from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $51.00 to $66.00 in a research report on Friday. The Goldman Sachs Group reduced their price target on Alcoa from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. Credit Suisse Group dropped their price objective on shares of Alcoa from $82.00 to $63.00 and set a “neutral” rating for the company in a report on Tuesday, July 19th. BMO Capital Markets cut their target price on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. Finally, B. Riley cut their target price on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 28th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

Alcoa Trading Down 1.6 %

AA opened at $42.46 on Monday. Alcoa Co. has a twelve month low of $39.56 and a twelve month high of $98.09. The company has a quick ratio of 1.02, a current ratio of 1.81 and a debt-to-equity ratio of 0.24. The company has a fifty day moving average of $48.86 and a 200-day moving average of $61.60. The stock has a market cap of $7.64 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 0.60 and a beta of 2.31.

Alcoa (NYSE:AAGet Rating) last announced its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.71 by ($1.04). The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 earnings per share. On average, sell-side analysts predict that Alcoa Co. will post 7.16 EPS for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Tuesday, August 9th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Monday, August 8th. Alcoa’s dividend payout ratio (DPR) is 7.86%.

Alcoa Profile

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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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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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