Pekin Hardy Strauss Inc. Decreases Position in Alcoa Co. (NYSE:AA)

Pekin Hardy Strauss Inc. decreased its stake in Alcoa Co. (NYSE:AA) by 37.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,961 shares of the industrial products company’s stock after selling 8,276 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Alcoa were worth $475,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Invesco Ltd. boosted its stake in Alcoa by 7.4% during the third quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock worth $93,457,000 after buying an additional 222,884 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of Alcoa in the 3rd quarter worth about $39,557,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Alcoa by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,234,472 shares of the industrial products company’s stock worth $35,874,000 after purchasing an additional 54,876 shares during the period. Douglas Lane & Associates LLC grew its holdings in Alcoa by 16.9% during the 4th quarter. Douglas Lane & Associates LLC now owns 1,197,317 shares of the industrial products company’s stock valued at $40,709,000 after purchasing an additional 173,367 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Alcoa by 9.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 939,128 shares of the industrial products company’s stock worth $27,291,000 after purchasing an additional 80,916 shares during the period.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the completion of the sale, the executive vice president now owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alcoa Stock Down 6.7 %

NYSE:AA opened at $35.13 on Wednesday. Alcoa Co. has a fifty-two week low of $23.07 and a fifty-two week high of $38.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.93 and a current ratio of 1.61. The company’s 50-day simple moving average is $32.26 and its 200-day simple moving average is $29.47.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the previous year, the business earned ($0.23) EPS. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that Alcoa Co. will post 0.2 EPS for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, March 4th. Alcoa’s payout ratio is currently -10.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AA shares. BMO Capital Markets upped their target price on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. increased their target price on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. UBS Group boosted their target price on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, April 19th. Finally, Bank of America raised their price target on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $33.54.

Alcoa Company Profile

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.