SG Americas Securities LLC Sells 44,104 Shares of Alcoa $AA

SG Americas Securities LLC decreased its position in shares of Alcoa (NYSE:AA) by 33.8% during the third quarter, Holdings Channel reports. The fund owned 86,451 shares of the industrial products company’s stock after selling 44,104 shares during the period. SG Americas Securities LLC’s holdings in Alcoa were worth $2,843,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS grew its stake in Alcoa by 3.4% in the third quarter. KLP Kapitalforvaltning AS now owns 54,700 shares of the industrial products company’s stock worth $1,799,000 after purchasing an additional 1,800 shares during the period. D.A. Davidson & CO. lifted its position in Alcoa by 7.5% during the third quarter. D.A. Davidson & CO. now owns 13,219 shares of the industrial products company’s stock valued at $435,000 after buying an additional 922 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Alcoa during the 3rd quarter valued at $220,000. Merit Financial Group LLC bought a new stake in shares of Alcoa during the 3rd quarter valued at $444,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Alcoa by 63.6% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 45,000 shares of the industrial products company’s stock worth $1,480,000 after buying an additional 17,500 shares during the period.

Alcoa Trading Up 3.1%

NYSE:AA opened at $65.66 on Tuesday. The company has a market cap of $17.00 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 0.25 and a beta of 1.95. The company has a current ratio of 1.56, a quick ratio of 0.91 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $46.36 and a two-hundred day simple moving average of $37.42. Alcoa has a 12 month low of $21.53 and a 12 month high of $66.05.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the business posted $0.57 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. Research analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s dividend payout ratio (DPR) is presently 9.24%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. HSBC lifted their price target on shares of Alcoa from $33.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $50.00 target price (up previously from $45.00) on shares of Alcoa in a research note on Thursday, January 8th. Zacks Research upgraded shares of Alcoa from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. UBS Group boosted their price target on Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, Argus set a $45.00 price objective on Alcoa in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Alcoa currently has an average rating of “Hold” and a consensus target price of $47.75.

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.