Tokio Marine Asset Management Co. Ltd. lowered its position in shares of Alcoa Inc. (NYSE:AA) by 8.2% during the second quarter, Holdings Channel reports. The fund owned 44,797 shares of the company’s stock after selling 4,009 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Alcoa were worth $415,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AA. Candriam Luxembourg S.C.A. increased its stake in Alcoa by 104.6% in the second quarter. Candriam Luxembourg S.C.A. now owns 480,783 shares of the company’s stock worth $4,457,000 after buying an additional 245,767 shares during the period. Confluence Investment Management LLC increased its stake in Alcoa by 0.9% in the second quarter. Confluence Investment Management LLC now owns 29,368 shares of the company’s stock worth $272,000 after buying an additional 267 shares during the period. Retirement Systems of Alabama increased its stake in Alcoa by 41.6% in the second quarter. Retirement Systems of Alabama now owns 1,555,399 shares of the company’s stock worth $14,419,000 after buying an additional 457,196 shares during the period. UMB Bank N A MO increased its stake in Alcoa by 714.2% in the second quarter. UMB Bank N A MO now owns 196,760 shares of the company’s stock worth $1,824,000 after buying an additional 172,595 shares during the period. Finally, WealthTrust Axiom LLC increased its stake in Alcoa by 0.8% in the second quarter. WealthTrust Axiom LLC now owns 652,329 shares of the company’s stock worth $6,047,000 after buying an additional 5,215 shares during the period.
Shares of Alcoa Inc. (NYSE:AA) traded down 11.42% during midday trading on Tuesday, reaching $27.91. 32,653,351 shares of the company’s stock traded hands. The firm’s market capitalization is $12.24 billion. Alcoa Inc. has a one year low of $18.42 and a one year high of $34.50. The stock’s 50-day moving average price is $29.93 and its 200 day moving average price is $29.86.
Alcoa (NYSE:AA) last posted its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. The business had revenue of $5.21 billion for the quarter, compared to analysts’ expectations of $5.33 billion. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.07 EPS. On average, equities research analysts expect that Alcoa Inc. will post $0.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.43%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio is currently -42.85%.
A number of analysts recently issued reports on AA shares. Bank of America Corp. restated a “buy” rating and set a $11.00 price objective on shares of Alcoa in a report on Tuesday, July 12th. Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a report on Thursday, June 30th. Rosenblatt Securities restated a “buy” rating and set a $15.00 price objective on shares of Alcoa in a report on Wednesday, June 15th. Macquarie restated a “buy” rating on shares of Alcoa in a report on Tuesday, July 12th. Finally, Morgan Stanley restated a “buy” rating and set a $12.00 price objective on shares of Alcoa in a report on Tuesday, August 16th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Alcoa presently has a consensus rating of “Buy” and an average price target of $13.31.
In related news, Director Ulrich Schmidt bought 5,000 shares of the stock in a transaction on Wednesday, July 20th. The shares were acquired at an average price of $10.40 per share, for a total transaction of $52,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $104,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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