Edgestream Partners L.P. Has $1.03 Million Stock Holdings in Alcoa $AA

Edgestream Partners L.P. trimmed its holdings in shares of Alcoa (NYSE:AA) by 76.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,582 shares of the industrial products company’s stock after selling 51,681 shares during the quarter. Edgestream Partners L.P.’s holdings in Alcoa were worth $1,034,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in shares of Alcoa during the fourth quarter valued at $25,000. Advisory Services Network LLC bought a new stake in shares of Alcoa in the third quarter worth $27,000. Raleigh Capital Management Inc. grew its stake in shares of Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the last quarter. CoreCap Advisors LLC increased its holdings in Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its holdings in Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on AA shares. Argus lowered their target price on Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, July 22nd. UBS Group reduced their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings raised Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.09.

Alcoa Price Performance

Shares of NYSE AA opened at $44.85 on Tuesday. Alcoa has a twelve month low of $28.50 and a twelve month high of $84.38. The firm has a fifty day simple moving average of $56.90 and a 200 day simple moving average of $61.32. The company has a market capitalization of $11.84 billion, a PE ratio of 9.23, a P/E/G ratio of 0.51 and a beta of 1.63. 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 (NYSE:AA) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.13). Alcoa had a net margin of 9.48% and a return on equity of 18.90%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, sell-side analysts forecast that Alcoa will post 6.55 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 annualized dividend and a dividend yield of 0.9%. Alcoa’s dividend payout ratio is presently 8.23%.

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.