Cookson Peirce & Co. Inc. Reduces Position in Alcoa $AA

Cookson Peirce & Co. Inc. decreased its position in Alcoa (NYSE:AA) by 5.1% during the 2nd quarter, Holdings Channel reports. The firm owned 531,143 shares of the industrial products company’s stock after selling 28,531 shares during the period. Cookson Peirce & Co. Inc.’s holdings in Alcoa were worth $27,694,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new stake in Alcoa during the 4th quarter valued at $25,000. Western Wealth Management LLC bought a new position in shares of Alcoa during the first quarter valued at about $35,000. 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 acquiring an additional 581 shares during the last quarter. Quarry LP boosted its holdings in shares of Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 340 shares during the period. Finally, Clearstead Trust LLC boosted its holdings in shares of Alcoa by 431.7% during the fourth quarter. Clearstead Trust LLC now owns 755 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 613 shares during the period.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AA shares. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Zacks Research lowered Alcoa from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 8th. BMO Capital Markets reduced their target price on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, July 17th. Royal Bank Of Canada set a $70.00 price objective on Alcoa in a research report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. decreased their target price on Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, July 17th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Alcoa has an average rating of “Hold” and an average target price of $61.09.

Alcoa Stock Down 3.2%

Shares of Alcoa stock opened at $49.57 on Friday. Alcoa has a 1 year low of $28.92 and a 1 year high of $84.38. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.58 and a beta of 1.63. The company has a 50-day moving average of $52.45 and a 200 day moving average of $60.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the company posted $0.39 EPS. As a group, sell-side analysts anticipate that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s dividend payout ratio is presently 8.23%.

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.