Rock Point Advisors LLC lowered its position in Alcoa Inc. (NYSE:AA) by 7.7% during the second quarter, Holdings Channel reports. The firm owned 211,020 shares of the company’s stock after selling 17,660 shares during the period. Rock Point Advisors LLC’s holdings in Alcoa were worth $1,956,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Cupps Capital Management LLC bought a new stake in Alcoa during the first quarter valued at $109,000. Citizens Financial Group Inc RI boosted its stake in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock valued at $109,000 after buying an additional 1,401 shares during the last quarter. AXA bought a new stake in Alcoa during the first quarter valued at $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in Alcoa during the second quarter valued at $121,000. Finally, Savant Capital LLC boosted its stake in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares during the last quarter.
Shares of Alcoa Inc. (NYSE:AA) traded down 0.34% during trading on Monday, reaching $26.35. 8,486,076 shares of the company were exchanged. Alcoa Inc. has a one year low of $18.42 and a one year high of $34.50. The company’s market capitalization is $11.55 billion. The firm’s 50 day moving average price is $29.41 and its 200 day moving average price is $29.78.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21. The firm had revenue of $5.21 billion for the quarter. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. Alcoa’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.07 earnings per share. Equities research analysts forecast that Alcoa Inc. will post $0.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be issued a dividend of $0.03 per share. 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 payout ratio is -63.15%.
Several research analysts have recently issued reports on AA shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $33.00 target price on shares of Alcoa in a research note on Wednesday, October 12th. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, October 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 target price on shares of Alcoa in a research note on Wednesday, October 5th. Seaport Global Securities started coverage on shares of Alcoa in a research note on Friday, September 9th. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, Cowen and Company raised their target price on shares of Alcoa from $10.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.74.
In other Alcoa news, Director Ulrich Schmidt purchased 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were purchased at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the acquisition, 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 the SEC website.
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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