Alcoa $AA Holdings Lessened by Mountaineer Partners Management LLC

Mountaineer Partners Management LLC lowered its position in shares of Alcoa (NYSE:AA) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,994 shares of the industrial products company’s stock after selling 54,648 shares during the period. Alcoa makes up about 7.2% of Mountaineer Partners Management LLC’s investment portfolio, making the stock its 5th largest position. Mountaineer Partners Management LLC owned approximately 0.09% of Alcoa worth $12,860,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AA. Basepoint Wealth LLC purchased a new stake in shares of Alcoa during the fourth quarter valued at approximately $25,000. Advisory Services Network LLC purchased a new stake in shares of Alcoa during the third quarter valued at approximately $27,000. Raleigh Capital Management Inc. raised its stake in shares of Alcoa by 52,500.0% during 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 period. CoreCap Advisors LLC raised its stake in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Alcoa by 5,281.8% during 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 purchasing an additional 581 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on AA shares. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their price target for the stock from $75.00 to $80.00 in a research report on Friday, May 22nd. Argus set a $73.00 price target on shares of Alcoa in a research report on Monday, April 27th. B. Riley Financial raised their price target on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.50.

Alcoa Stock Down 0.1%

AA stock opened at $68.69 on Monday. Alcoa has a twelve month low of $27.72 and a twelve month high of $84.38. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $18.13 billion, a P/E ratio of 17.39 and a beta of 1.56. The firm has a 50 day simple moving average of $69.43 and a 200-day simple moving average of $61.49.

Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share 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 firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.15 EPS. On average, equities research analysts predict that Alcoa will post 7.89 earnings per share for the current fiscal year.

Alcoa Announces Dividend

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

Alcoa 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.