KBC Group NV Sells 3,479 Shares of Alcoa $AA

KBC Group NV trimmed its position in Alcoa (NYSE:AA) by 32.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,333 shares of the industrial products company’s stock after selling 3,479 shares during the quarter. KBC Group NV’s holdings in Alcoa were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Capital Management Inc. lifted its position in Alcoa by 1.8% during the 2nd quarter. Twin Capital Management Inc. now owns 19,137 shares of the industrial products company’s stock worth $565,000 after acquiring an additional 344 shares during the last quarter. CWM LLC increased its stake in shares of Alcoa by 1.9% in the second quarter. CWM LLC now owns 18,628 shares of the industrial products company’s stock worth $550,000 after purchasing an additional 354 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Alcoa by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 72,800 shares of the industrial products company’s stock worth $2,148,000 after purchasing an additional 400 shares during the period. State of Michigan Retirement System lifted its position in shares of Alcoa by 0.6% during the 2nd quarter. State of Michigan Retirement System now owns 62,275 shares of the industrial products company’s stock worth $1,838,000 after purchasing an additional 400 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Alcoa by 4.3% during the 2nd quarter. ProShare Advisors LLC now owns 11,477 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 470 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on AA. UBS Group lifted their price target on Alcoa from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Friday, September 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a research report on Thursday, November 13th. Argus set a $45.00 price target on shares of Alcoa in a report on Thursday, October 30th. Wells Fargo & Company started coverage on shares of Alcoa in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $40.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Seven investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $42.35.

Alcoa Stock Up 2.1%

Shares of AA stock opened at $36.52 on Wednesday. Alcoa has a one year low of $21.53 and a one year high of $47.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 0.91. The stock has a fifty day moving average price of $35.61 and a 200 day moving average price of $31.65. The stock has a market cap of $9.46 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 0.20 and a beta of 2.26.

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

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.1%. Alcoa’s dividend payout ratio (DPR) is currently 9.24%.

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.