Banco Santander S.A. Sells 56,265 Shares of Alcoa Co. (NYSE:AA)

Banco Santander S.A. reduced its stake in Alcoa Co. (NYSE:AAGet Rating) by 41.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,137 shares of the industrial products company’s stock after selling 56,265 shares during the period. Banco Santander S.A.’s holdings in Alcoa were worth $7,035,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Hanseatic Management Services Inc. acquired a new stake in shares of Alcoa in the first quarter valued at about $25,000. Fairfield Bush & CO. bought a new stake in shares of Alcoa during the first quarter worth approximately $29,000. CWM LLC bought a new stake in shares of Alcoa during the fourth quarter worth approximately $30,000. Retirement Group LLC boosted its stake in shares of Alcoa by 100.0% in the fourth quarter. Retirement Group LLC now owns 500 shares of the industrial products company’s stock valued at $30,000 after buying an additional 250 shares during the period. Finally, Covestor Ltd bought a new stake in shares of Alcoa in the fourth quarter valued at approximately $58,000.

Alcoa Trading Up 3.5 %

NYSE:AA opened at $49.52 on Friday. The company’s 50-day simple moving average is $49.70 and its 200 day simple moving average is $65.29. The firm has a market capitalization of $8.91 billion, a P/E ratio of 9.73, a PEG ratio of 0.75 and a beta of 2.33. Alcoa Co. has a one year low of $36.61 and a one year high of $98.09. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 1.02.

Alcoa (NYSE:AAGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $3.71 by ($1.04). Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The company had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period in the previous year, the firm earned $1.49 earnings per share. The firm’s revenue for the quarter was up 28.6% on a year-over-year basis. As a group, analysts forecast that Alcoa Co. will post 6.53 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Tuesday, August 9th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.81%. Alcoa’s dividend payout ratio is 7.86%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AA. B. Riley lowered their price objective on shares of Alcoa from $84.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 28th. BMO Capital Markets cut their price target on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. Morgan Stanley cut their price target on shares of Alcoa from $55.00 to $51.00 and set an “equal weight” rating on the stock in a research report on Monday, July 25th. Citigroup cut shares of Alcoa from a “buy” rating to a “neutral” rating and set a $84.00 price objective on the stock. in a research report on Thursday, April 21st. Finally, Credit Suisse Group lowered their target price on shares of Alcoa from $82.00 to $63.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.64.

About Alcoa

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Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.

See Also

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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