Leonteq Securities AG Sells 19,108 Shares of Alcoa $AA

Leonteq Securities AG lowered its stake in shares of Alcoa (NYSE:AA) by 91.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,892 shares of the industrial products company’s stock after selling 19,108 shares during the quarter. Leonteq Securities AG’s holdings in Alcoa were worth $125,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Basepoint Wealth LLC purchased a new stake in shares of Alcoa during the fourth quarter valued at $25,000. Advisory Services Network LLC acquired a new position in Alcoa during the third quarter valued at $27,000. Raleigh Capital Management Inc. lifted its position in Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 525 shares during the period. CoreCap Advisors LLC grew its position in Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after buying an additional 581 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada set a $70.00 target price on shares of Alcoa in a research note on Wednesday, July 1st. Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Argus set a $73.00 target price on shares of Alcoa in a research note on Monday, April 27th. JPMorgan Chase & Co. raised their target price on Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, B. Riley Financial cut their price target on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $66.36.

Alcoa Stock Performance

NYSE:AA opened at $48.97 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The stock has a market capitalization of $12.92 billion, a PE ratio of 12.40, a P/E/G ratio of 0.77 and a beta of 1.63. Alcoa has a fifty-two week low of $28.11 and a fifty-two week high of $84.38. The company has a fifty day moving average of $64.21 and a two-hundred day moving average of $62.80.

Alcoa (NYSE:AA) last released its earnings results on Thursday, April 16th. The industrial products company reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the firm earned $2.15 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. As a group, research analysts forecast that Alcoa will post 7.54 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is 10.13%.

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.