Wellington Management Group LLP Acquires 72,926 Shares of Alcoa $AA

Wellington Management Group LLP grew its holdings in shares of Alcoa (NYSE:AA) by 17.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 488,951 shares of the industrial products company’s stock after acquiring an additional 72,926 shares during the quarter. Wellington Management Group LLP’s holdings in Alcoa were worth $25,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Checchi Capital Advisers LLC lifted its stake in Alcoa by 3.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,138 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 170 shares during the period. Essential Partners LLC raised its holdings in Alcoa by 0.9% in the 1st quarter. Essential Partners LLC now owns 20,525 shares of the industrial products company’s stock worth $1,361,000 after purchasing an additional 193 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in Alcoa by 0.4% in 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 in the last quarter. Crossmark Global Holdings Inc. raised its holdings in Alcoa by 1.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 13,596 shares of the industrial products company’s stock worth $722,000 after purchasing an additional 241 shares in the last quarter. Finally, Himension Capital Singapore PTE. LTD. lifted its position in shares of Alcoa by 1.3% in the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 18,626 shares of the industrial products company’s stock worth $1,235,000 after purchasing an additional 246 shares during the period. Institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of research reports. UBS Group cut their target price on shares of Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Wall Street Zen raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. Wells Fargo & Company cut their price objective on Alcoa from $72.00 to $71.00 and set an “overweight” rating on the stock in a research report on Friday, July 17th. Finally, Bank of America reduced their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a report on Thursday, July 9th. Six research 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, Alcoa has an average rating of “Hold” and a consensus target price of $61.09.

Insider Transactions at Alcoa

In other Alcoa news, EVP Tammi Jones sold 15,628 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $50.60, for a total value of $790,776.80. Following the sale, the executive vice president owned 39,819 shares in the company, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the transaction, the executive vice president directly owned 74,930 shares of the company’s stock, valued at $3,822,928.60. This represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is currently owned by corporate insiders.

Alcoa Stock Performance

Shares of Alcoa stock opened at $49.98 on Friday. Alcoa has a 12 month low of $30.71 and a 12 month high of $84.38. The firm has a market capitalization of $13.19 billion, a P/E ratio of 10.28, a P/E/G ratio of 0.56 and a beta of 1.63. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $48.64 and a two-hundred day simple moving average of $59.58.

Alcoa (NYSE:AA) last released its earnings results on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the prior year, the company earned $0.39 earnings per share. On average, equities analysts forecast that Alcoa will post 6.55 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Tuesday, August 11th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.40 annualized dividend and a yield of 0.8%. Alcoa’s 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.