Encompass Capital Advisors LLC Cuts Holdings in Alcoa $AA

Encompass Capital Advisors LLC decreased its holdings in Alcoa (NYSE:AA) by 20.7% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 605,149 shares of the industrial products company’s stock after selling 158,251 shares during the quarter. Alcoa accounts for about 1.2% of Encompass Capital Advisors LLC’s holdings, making the stock its 22nd biggest holding. Encompass Capital Advisors LLC’s holdings in Alcoa were worth $40,140,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AA. Checchi Capital Advisers LLC boosted its position in Alcoa by 3.4% during the 1st quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 170 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in shares of Alcoa by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 10,682 shares of the industrial products company’s stock worth $568,000 after acquiring an additional 204 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Alcoa by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 57,940 shares of the industrial products company’s stock worth $3,079,000 after purchasing an additional 229 shares during the last quarter. CoreCap Advisors LLC lifted its stake in shares of 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 last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in Alcoa by 1.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock valued at $722,000 after purchasing an additional 241 shares in the last quarter.

Alcoa Trading Down 0.3%

Shares of NYSE:AA opened at $44.11 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.53 and a debt-to-equity ratio of 0.30. Alcoa has a 52-week low of $28.11 and a 52-week high of $84.38. The stock has a market cap of $11.64 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.50 and a beta of 1.63. The business has a 50-day moving average price of $59.20 and a 200-day moving average price of $62.00.

Alcoa (NYSE:AA) last issued 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 business had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter last year, the company posted $0.39 EPS. Equities analysts predict that Alcoa will post 6.55 EPS for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio is 8.23%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. BMO Capital Markets cut their target price on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research note on Friday, July 17th. Morgan Stanley reissued an “equal weight” rating and set a $53.00 price target (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Zacks Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. B. Riley Financial cut their price objective on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Finally, Argus reduced their price objective on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company 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.