16,743 Alcoa $AA Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC reduced its position in shares of Alcoa (NYSE:AA) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 844,855 shares of the industrial products company’s stock after selling 16,743 shares during the period. Douglas Lane & Associates LLC owned approximately 0.32% of Alcoa worth $35,484,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Alcoa by 10.4% in the 3rd quarter. GAMMA Investing LLC now owns 6,852 shares of the industrial products company’s stock valued at $288,000 after acquiring an additional 646 shares during the last quarter. YHB Investment Advisors Inc. grew its stake in shares of Alcoa by 3.2% in the 3rd quarter. YHB Investment Advisors Inc. now owns 9,569 shares of the industrial products company’s stock worth $402,000 after purchasing an additional 301 shares during the last quarter. Ausbil Investment Management Ltd acquired a new position in shares of Alcoa in the 3rd quarter worth approximately $588,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Alcoa by 4.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,373 shares of the industrial products company’s stock worth $332,000 after purchasing an additional 282 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Alcoa by 7.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 349,306 shares of the industrial products company’s stock worth $18,213,000 after purchasing an additional 22,880 shares in the last quarter.

Analysts Set New Price Targets

AA has been the subject of a number of research reports. Zacks Research upgraded shares of Alcoa from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Freedom Broker raised their price objective on Alcoa from $64.00 to $76.00 and gave the stock a “buy” rating in a research note on Tuesday, September 22nd. Wells Fargo & Company decreased their target price on Alcoa from $71.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, September 18th. Finally, Bank of America cut their target price on Alcoa from $57.00 to $51.00 and set an “underperform” rating on the stock in a research report on Thursday, July 9th. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.00.

Insider Transactions at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the completion of the sale, the executive vice president directly owned 74,930 shares in the company, valued at approximately $3,822,928.60. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Tammi Jones sold 15,628 shares of Alcoa 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 transaction, the executive vice president directly owned 39,819 shares in the company, valued at approximately $2,014,841.40. This trade represents a 28.19% decrease in their position. The SEC filing for this sale provides additional information.

Alcoa Trading Down 1.5%

NYSE AA traded down $0.62 on Friday, hitting $42.20. 2,056,144 shares of the stock were exchanged, compared to its average volume of 5,835,047. The company’s 50-day moving average price is $47.63 and its two-hundred day moving average price is $56.72. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.53 and a quick ratio of 0.92. Alcoa has a 52-week low of $35.01 and a 52-week high of $84.38. The company has a market capitalization of $11.14 billion, a price-to-earnings ratio of 8.70, a P/E/G ratio of 0.48 and a beta of 1.74.

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 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 net margin of 9.48% and a return on equity of 18.90%. During the same quarter in the previous year, the company earned $0.39 EPS. Research analysts predict that Alcoa will post 6.61 EPS for the current year.

Alcoa Dividend Announcement

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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, August 11th. Alcoa’s dividend payout ratio is currently 8.23%.

Alcoa Profile

Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.

The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.

Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.