Raymond James Financial Services Advisors Inc. Lowers Stock Holdings in Alcoa Co. (NYSE:AA)

Raymond James Financial Services Advisors Inc. decreased its position in shares of Alcoa Co. (NYSE:AAGet Rating) by 54.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,016 shares of the industrial products company’s stock after selling 41,347 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Alcoa were worth $1,145,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Deutsche Bank AG lifted its stake in Alcoa by 39.9% in the 2nd quarter. Deutsche Bank AG now owns 667,512 shares of the industrial products company’s stock worth $30,424,000 after purchasing an additional 190,523 shares in the last quarter. Aviva PLC purchased a new stake in Alcoa in the 2nd quarter worth $3,272,000. Securian Asset Management Inc. lifted its stake in Alcoa by 1.8% in the 2nd quarter. Securian Asset Management Inc. now owns 16,815 shares of the industrial products company’s stock worth $766,000 after purchasing an additional 296 shares in the last quarter. Empowered Funds LLC purchased a new stake in Alcoa in the 2nd quarter worth $3,662,000. Finally, Exchange Traded Concepts LLC lifted its stake in Alcoa by 48.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,267 shares of the industrial products company’s stock worth $76,000 after purchasing an additional 743 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts have commented on AA shares. The Goldman Sachs Group decreased their price target on shares of Alcoa from $75.00 to $51.00 and set a “buy” rating on the stock in a research note on Thursday, October 13th. StockNews.com initiated coverage on shares of Alcoa in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. BMO Capital Markets reduced their target price on shares of Alcoa from $55.00 to $50.00 and set a “market perform” rating on the stock in a report on Thursday. Morgan Stanley reduced their target price on shares of Alcoa from $56.00 to $52.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, UBS Group initiated coverage on shares of Alcoa in a report on Thursday, October 6th. They issued a “neutral” rating and a $43.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.00.

Alcoa Price Performance

Alcoa stock opened at $51.00 on Friday. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of -60.71, a price-to-earnings-growth ratio of 1.65 and a beta of 2.41. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.81 and a quick ratio of 1.00. Alcoa Co. has a 1 year low of $33.55 and a 1 year high of $98.09. The firm has a 50-day moving average of $47.61 and a two-hundred day moving average of $45.69.

Alcoa (NYSE:AAGet Rating) last released its quarterly earnings data on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.05. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.70 billion. Alcoa had a negative net margin of 0.91% and a positive return on equity of 22.27%. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. On average, research analysts forecast that Alcoa Co. will post 4.62 earnings per share for the current year.

Alcoa Profile

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Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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