ICM Asset Management Inc. WA cut its position in shares of Alcoa Inc. (NYSE:AA) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 259,388 shares of the company’s stock after selling 5,064 shares during the period. Alcoa accounts for approximately 3.5% of ICM Asset Management Inc. WA’s investment portfolio, making the stock its 5th largest position. ICM Asset Management Inc. WA’s holdings in Alcoa were worth $2,405,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of AA. Sumitomo Mitsui Asset Management Company LTD raised its stake in shares of Alcoa by 0.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 98,549 shares of the company’s stock worth $913,000 after buying an additional 771 shares in the last quarter. Henderson Group PLC raised its stake in shares of Alcoa by 1.2% in the second quarter. Henderson Group PLC now owns 440,178 shares of the company’s stock worth $4,081,000 after buying an additional 5,087 shares in the last quarter. Concert Wealth Management Inc. raised its stake in shares of Alcoa by 89.2% in the second quarter. Concert Wealth Management Inc. now owns 27,644 shares of the company’s stock worth $256,000 after buying an additional 13,031 shares in the last quarter. Savant Capital LLC raised its stake in shares of Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock worth $122,000 after buying an additional 2,360 shares in the last quarter. Finally, Arrow Investment Advisors LLC bought a new stake in shares of Alcoa during the second quarter worth $1,460,000.
Shares of Alcoa Inc. (NYSE:AA) traded down 0.34% on Monday, reaching $26.35. 8,482,728 shares of the company were exchanged. The company’s 50 day moving average is $29.51 and its 200 day moving average is $29.79. The firm’s market capitalization is $11.55 billion. Alcoa Inc. has a 12-month low of $18.42 and a 12-month high of $34.50.
Alcoa (NYSE:AA) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The firm had revenue of $5.21 billion for the quarter. During the same period last year, the business posted $0.07 earnings per share. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. Analysts forecast that Alcoa Inc. will post $0.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is -63.15%.
A number of analysts have commented on AA shares. Zacks Investment Research lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Thursday. Cowen and Company boosted their price target on shares of Alcoa from $10.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday. RBC Capital Markets reissued a “sector perform” rating and issued a $31.00 price target (down previously from $33.00) on shares of Alcoa in a report on Wednesday, October 12th. Deutsche Bank AG decreased their price target on shares of Alcoa to $33.00 and set a “buy” rating for the company in a report on Wednesday, October 12th. Finally, Bank of America Corp. reissued a “buy” rating and issued a $33.00 price target on shares of Alcoa in a report on Wednesday, October 12th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Alcoa currently has a consensus rating of “Buy” and a consensus price target of $17.74.
In other Alcoa news, Director Ulrich Schmidt acquired 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were purchased at an average cost of $10.40 per share, with a total value of $52,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $104,000. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Alcoa Company Profile
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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