Vanguard Group Inc. Sells 330,439 Shares of Alcoa $AA

Vanguard Group Inc. lessened its stake in Alcoa (NYSE:AA) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,198,181 shares of the industrial products company’s stock after selling 330,439 shares during the quarter. Vanguard Group Inc. owned 0.10% of Alcoa worth $828,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. NewEdge Advisors LLC boosted its stake in Alcoa by 1,098.0% in the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Alcoa by 0.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after purchasing an additional 4,624 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Alcoa by 29.0% in the second quarter. Envestnet Asset Management Inc. now owns 17,487 shares of the industrial products company’s stock valued at $516,000 after purchasing an additional 3,926 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Alcoa by 138.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 108,411 shares of the industrial products company’s stock worth $3,199,000 after buying an additional 63,010 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in shares of Alcoa by 357.9% during the second quarter. Hantz Financial Services Inc. now owns 2,656 shares of the industrial products company’s stock worth $78,000 after buying an additional 2,076 shares in the last quarter.

Alcoa Stock Performance

Shares of NYSE AA opened at $60.38 on Monday. The company has a current ratio of 1.45, a quick ratio of 0.87 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $15.63 billion, a P/E ratio of 13.66 and a beta of 1.91. Alcoa has a 12 month low of $21.53 and a 12 month high of $66.95. The stock has a 50 day moving average of $58.32 and a 200-day moving average of $43.63.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, January 22nd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.31. The business had revenue of ($1,130.00) million during the quarter, compared to the consensus estimate of $3.28 billion. Alcoa had a return on equity of 16.18% and a net margin of 9.12%.The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.04 EPS. As a group, equities research analysts predict that Alcoa will post 4.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on AA. B. Riley Financial restated a “buy” rating on shares of Alcoa in a research note on Friday, January 23rd. Wells Fargo & Company cut their price objective on shares of Alcoa from $71.00 to $64.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Citigroup increased their target price on shares of Alcoa from $42.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, December 19th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $50.00 target price (up previously from $45.00) on shares of Alcoa in a research report on Thursday, January 8th. Finally, Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday. Five research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Alcoa has an average rating of “Hold” and an average price target of $48.25.

Alcoa Company Profile

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.