Alcoa Inc. (AA) Position Cut by Exxonmobil Investment Management Inc. TX
Exxonmobil Investment Management Inc. TX reduced its position in shares of Alcoa Inc. (NYSE:AA) by 1.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 335,862 shares of the company’s stock after selling 4,554 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Alcoa were worth $3,406,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in Alcoa by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 162,058 shares of the company’s stock valued at $1,553,000 after buying an additional 13,113 shares during the period. Arizona State Retirement System boosted its stake in Alcoa by 1.8% in the first quarter. Arizona State Retirement System now owns 356,511 shares of the company’s stock valued at $3,415,000 after buying an additional 6,300 shares during the period. First Republic Investment Management Inc. boosted its stake in Alcoa by 37.5% in the first quarter. First Republic Investment Management Inc. now owns 90,321 shares of the company’s stock valued at $866,000 after buying an additional 24,639 shares during the period. BlueMountain Capital Management LLC purchased a new stake in Alcoa during the first quarter valued at $131,000. Finally, Patten & Patten Inc. TN purchased a new stake in Alcoa during the second quarter valued at $1,188,000.
Shares of Alcoa Inc. (NYSE:AA) traded down 3.66% on Tuesday, reaching $29.73. The company’s stock had a trading volume of 4,927,808 shares. Alcoa Inc. has a 52-week low of $20.00 and a 52-week high of $32.19. The stock has a 50-day moving average of $26.18 and a 200 day moving average of $26.18.
Alcoa (NYSE:AA) last released its earnings results on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.21. The company earned $5.21 billion during the quarter. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS. On average, analysts predict that Alcoa Inc. will post ($0.62) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 4th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Wednesday, November 2nd. Alcoa’s payout ratio is presently -63.15%.
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AA has been the topic of several research reports. Morgan Stanley restated a “buy” rating and set a $12.00 price target on shares of Alcoa in a report on Tuesday, August 16th. Seaport Global Securities initiated coverage on Alcoa in a research note on Friday, September 9th. They issued a “neutral” rating and a $11.00 price objective on the stock. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, October 4th. Credit Suisse Group AG set a $39.00 price objective on Alcoa and gave the stock a “buy” rating in a research note on Saturday, October 8th. Finally, Goldman Sachs Group Inc. set a $30.00 price objective on Alcoa and gave the stock a “hold” rating in a research note on Monday, October 10th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Alcoa currently has a consensus rating of “Hold” and an average target price 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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