Claro Advisors LLC Sells 13,800 Shares of Alcoa $AA

Claro Advisors LLC cut its holdings in shares of Alcoa (NYSE:AA) by 51.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,066 shares of the industrial products company’s stock after selling 13,800 shares during the period. Claro Advisors LLC’s holdings in Alcoa were worth $386,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its stake in shares of Alcoa by 5.6% during the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock worth $2,367,000 after buying an additional 4,255 shares during the last quarter. Strs Ohio acquired a new stake in shares of Alcoa during the 1st quarter valued at $841,000. Voya Investment Management LLC grew its position in Alcoa by 4.3% during the 1st quarter. Voya Investment Management LLC now owns 1,176,886 shares of the industrial products company’s stock worth $35,895,000 after acquiring an additional 48,604 shares during the last quarter. Nordea Investment Management AB acquired a new position in Alcoa in the 2nd quarter worth about $1,433,000. Finally, Ausbil Investment Management Ltd increased its holdings in Alcoa by 650.0% in the 2nd quarter. Ausbil Investment Management Ltd now owns 15,000 shares of the industrial products company’s stock worth $443,000 after purchasing an additional 13,000 shares in the last quarter.

Alcoa Stock Up 2.8%

Alcoa stock opened at $36.75 on Friday. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 8.49, a PEG ratio of 0.20 and a beta of 2.26. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. The firm has a 50 day moving average price of $34.64 and a two-hundred day moving average price of $30.86.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Equities analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. Alcoa’s dividend payout ratio (DPR) is 9.24%.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent research reports. UBS Group lifted their price target on Alcoa from $31.00 to $34.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. BMO Capital Markets lifted their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Bank of America upped their price target on shares of Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a research report on Thursday, July 17th. Argus set a $45.00 price target on shares of Alcoa in a research note on Thursday, October 30th. Finally, Weiss Ratings upgraded shares of Alcoa from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $42.35.

About Alcoa

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 two segments, 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.