Chevy Chase Trust Holdings Inc. Has $11,145,000 Position in Alcoa Inc. (AA)
Chevy Chase Trust Holdings Inc. decreased its position in shares of Alcoa Inc. (NYSE:AA) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,099,148 shares of the company’s stock after selling 26,014 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Alcoa worth $11,145,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in AA. AXA bought a new stake in Alcoa during the first quarter worth $115,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Alcoa during the second quarter worth approximately $121,000. Savant Capital LLC increased its position 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. TRUE Private Wealth Advisors increased its position in shares of Alcoa by 18.3% in the second quarter. TRUE Private Wealth Advisors now owns 13,603 shares of the company’s stock worth $126,000 after buying an additional 2,103 shares in the last quarter. Finally, D L Carlson Investment Group Inc. acquired a new position in shares of Alcoa during the second quarter worth approximately $130,000.
Alcoa Inc. (NYSE:AA) traded up 0.60% on Friday, hitting $31.70. The stock had a trading volume of 3,109,628 shares. Alcoa Inc. has a 52-week low of $20.00 and a 52-week high of $32.19. The company has a 50 day moving average price of $26.01 and a 200-day moving average price of $26.01. The company’s market cap is $13.90 billion.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The company had revenue of $5.21 billion for the quarter. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities research analysts predict that Alcoa Inc. will post ($0.66) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 4th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Wednesday, November 2nd. Alcoa’s dividend payout ratio is currently -63.15%.
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AA has been the subject of a number of research reports. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Tuesday, October 4th. Morgan Stanley reiterated a “buy” rating and issued a $12.00 price objective on shares of Alcoa in a report on Tuesday, August 16th. Gabelli initiated coverage on Alcoa in a report on Tuesday, November 1st. They issued a “buy” rating for the company. Goldman Sachs Group Inc. set a $30.00 price objective on Alcoa and gave the stock a “hold” rating in a report on Monday, October 10th. Finally, Macquarie initiated coverage on Alcoa in a report on Tuesday, November 1st. They issued a “neutral” rating and a $21.00 price objective for the company. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $19.95.
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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