Empirical Finance LLC Has $937,000 Stock Holdings in Alcoa $AA

Empirical Finance LLC trimmed its position in shares of Alcoa (NYSE:AA) by 51.8% during the second quarter, HoldingsChannel reports. The firm owned 17,979 shares of the industrial products company’s stock after selling 19,340 shares during the quarter. Empirical Finance LLC’s holdings in Alcoa were worth $937,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AA. Basepoint Wealth LLC bought a new position in Alcoa during the fourth quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Alcoa in the second quarter worth about $25,000. Advisory Services Network LLC acquired a new stake in shares of Alcoa during the third quarter worth about $27,000. Caitong International Asset Management Co. Ltd raised its position in shares of Alcoa by 5,281.8% during 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 during the 1st quarter valued at about $35,000.

Insider Activity

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

Alcoa Price Performance

NYSE:AA opened at $50.68 on Thursday. Alcoa has a 52-week low of $30.71 and a 52-week high of $84.38. The company has a market cap of $13.38 billion, a P/E ratio of 10.43, a P/E/G ratio of 0.58 and a beta of 1.63. 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 stock’s 50-day simple moving average is $48.63 and its 200 day simple moving average is $59.41.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a return on equity of 18.90% and a net margin of 9.48%.The company had revenue of $3.97 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same period last year, the firm earned $0.39 EPS. As a group, sell-side analysts forecast that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. Alcoa’s payout ratio is currently 8.23%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AA. UBS Group lowered their target price on Alcoa from $80.00 to $68.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. B. Riley Financial cut their price target on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Bank of America cut their price target on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research note on Thursday, July 9th. Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a report on Wednesday, July 1st. Finally, Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.09.

About Alcoa

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.