Persistent Asset Partners Ltd Sells 34,902 Shares of Alcoa $AA

Persistent Asset Partners Ltd cut its holdings in Alcoa (NYSE:AA) by 73.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 12,525 shares of the industrial products company’s stock after selling 34,902 shares during the period. Persistent Asset Partners Ltd’s holdings in Alcoa were worth $666,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AA. Basepoint Wealth LLC bought a new position in shares of Alcoa in the 4th quarter worth $25,000. Advisory Services Network LLC bought a new stake in Alcoa in the third quarter valued at about $27,000. Raleigh Capital Management Inc. increased its holdings in Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after buying an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after buying an additional 581 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Argus set a $73.00 price objective on shares of Alcoa in a report on Monday, April 27th. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. UBS Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Friday, May 22nd. Finally, Citigroup lifted their price target on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.50.

Alcoa Stock Performance

Shares of AA stock opened at $62.88 on Wednesday. The company has a market capitalization of $16.59 billion, a P/E ratio of 15.92 and a beta of 1.56. Alcoa has a 52 week low of $27.72 and a 52 week high of $84.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The company’s 50 day moving average price is $69.11 and its two-hundred day moving average price is $61.82.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.15 earnings per share. On average, analysts expect that Alcoa will post 7.89 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio is currently 10.13%.

Alcoa Company Profile

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.