Vontobel Holding Ltd. Lowers Stake in Alcoa $AA

Vontobel Holding Ltd. cut its position in Alcoa (NYSE:AA) by 68.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,867 shares of the industrial products company’s stock after selling 14,742 shares during the period. Vontobel Holding Ltd.’s holdings in Alcoa were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Mackenzie Financial Corp lifted its stake in Alcoa by 121.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock worth $46,312,000 after purchasing an additional 861,383 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Alcoa by 5.6% in the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock worth $2,367,000 after purchasing an additional 4,255 shares during the last quarter. Strs Ohio bought a new stake in shares of Alcoa in the first quarter worth about $841,000. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Alcoa in the second quarter worth about $44,893,000. Finally, Mirabella Financial Services LLP boosted its stake in Alcoa by 62.5% during the second quarter. Mirabella Financial Services LLP now owns 325,000 shares of the industrial products company’s stock valued at $9,591,000 after buying an additional 125,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AA. Wells Fargo & Company lifted their price objective on Alcoa from $40.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 23rd. Argus set a $45.00 price target on shares of Alcoa in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. B. Riley boosted their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Alcoa in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Alcoa presently has a consensus rating of “Moderate Buy” and an average price target of $47.15.

Alcoa Stock Performance

Alcoa stock opened at $54.34 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 0.91. The firm has a market capitalization of $14.07 billion, a P/E ratio of 12.55, a price-to-earnings-growth ratio of 0.27 and a beta of 1.99. Alcoa has a 1-year low of $21.53 and a 1-year high of $54.82. The company’s 50-day moving average is $42.42 and its 200 day moving average is $35.43.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.13. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis. Research analysts forecast that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, November 4th. Alcoa’s dividend payout ratio (DPR) is 9.24%.

Alcoa 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.