UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $30.48 Million Stock Position in Alcoa $AA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Alcoa (NYSE:AA) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 584,502 shares of the industrial products company’s stock after selling 26,052 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.22% of Alcoa worth $30,476,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AA. Basepoint Wealth LLC acquired a new position in Alcoa during the 4th quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Alcoa in the second quarter valued at about $25,000. Advisory Services Network LLC acquired a new stake in shares of Alcoa in the third quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the period. Finally, Western Wealth Management LLC bought a new position in shares of Alcoa in the first quarter worth about $35,000.

Insider Buying and Selling at Alcoa

In other news, EVP Tammi Jones sold 15,628 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the sale, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $51.02, for a total value of $35,714.00. Following the completion of the sale, the executive vice president owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Wall Street Zen raised Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Morgan Stanley reiterated an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a report on Wednesday, July 8th. Bank of America reduced their price objective on Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.09.

Alcoa Stock Up 0.1%

Shares of AA opened at $51.09 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. The company has a 50-day simple moving average of $48.72 and a 200-day simple moving average of $59.65. Alcoa has a 52 week low of $30.58 and a 52 week high of $84.38. The firm has a market capitalization of $13.48 billion, a P/E ratio of 10.51, a P/E/G ratio of 0.58 and a beta of 1.63.

Alcoa (NYSE:AA) last released its earnings results 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 firm had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the business earned $0.39 earnings per share. On average, equities research analysts expect that Alcoa will post 6.55 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, August 11th. Alcoa’s dividend payout ratio (DPR) 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.