Two Sigma Advisers LP Trims Position in Alcoa Co. (NYSE:AA)

Two Sigma Advisers LP decreased its holdings in Alcoa Co. (NYSE:AA) by 49.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 678,864 shares of the industrial products company’s stock after selling 669,700 shares during the period. Two Sigma Advisers LP’s holdings in Alcoa were worth $25,647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Temasek Holdings Private Ltd raised its stake in Alcoa by 25.6% in the fourth quarter. Temasek Holdings Private Ltd now owns 438,819 shares of the industrial products company’s stock worth $16,579,000 after buying an additional 89,389 shares in the last quarter. Thomist Capital Management LP grew its holdings in shares of Alcoa by 76.0% during the 4th quarter. Thomist Capital Management LP now owns 130,100 shares of the industrial products company’s stock worth $4,833,000 after acquiring an additional 56,200 shares during the period. Sagefield Capital LP raised its position in shares of Alcoa by 1.2% in the 4th quarter. Sagefield Capital LP now owns 222,317 shares of the industrial products company’s stock worth $8,399,000 after acquiring an additional 2,676 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Alcoa in the 4th quarter valued at approximately $36,000. Finally, ProShare Advisors LLC boosted its position in shares of Alcoa by 7.3% during the fourth quarter. ProShare Advisors LLC now owns 12,088 shares of the industrial products company’s stock valued at $457,000 after purchasing an additional 827 shares in the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Stock Performance

Alcoa stock opened at $28.79 on Wednesday. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company has a market capitalization of $7.45 billion, a PE ratio of -179.94, a P/E/G ratio of 0.19 and a beta of 2.29. The company has a 50 day moving average price of $27.66 and a 200-day moving average price of $34.76. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.58 billion. As a group, equities analysts forecast that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Tuesday, May 20th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, May 20th. Alcoa’s dividend payout ratio is currently 12.05%.

Analyst Ratings Changes

AA has been the topic of a number of recent research reports. HC Wainwright upped their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. UBS Group reissued a “neutral” rating and set a $31.00 price objective on shares of Alcoa in a research note on Thursday, May 15th. Barclays raised their target price on shares of Alcoa to $31.00 and gave the company a “hold” rating in a research note on Friday, May 16th. B. Riley dropped their price target on Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Morgan Stanley cut their price target on Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $43.08.

About Alcoa

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 two segments, 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.