37,728 Alcoa $AA Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in Alcoa (NYSE:AA) by 63.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 21,506 shares of the industrial products company’s stock after selling 37,728 shares during the period. Vontobel Holding Ltd.’s holdings in Alcoa were worth $903,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of AA. Shelton Wealth Management LLC grew its stake in Alcoa by 24.7% in the third quarter. Shelton Wealth Management LLC now owns 17,693 shares of the industrial products company’s stock valued at $743,000 after purchasing an additional 3,507 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Alcoa by 1,498.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 717,838 shares of the industrial products company’s stock valued at $30,149,000 after buying an additional 672,939 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of 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 buying an additional 646 shares in the last quarter. YHB Investment Advisors Inc. grew its position 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 buying an additional 301 shares during the last quarter. Finally, Ausbil Investment Management Ltd purchased a new position in shares of Alcoa in the 3rd quarter worth approximately $588,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AA shares. Bank of America decreased their target price on shares of Alcoa from $57.00 to $51.00 and set an “underperform” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada set a $70.00 price target on shares of Alcoa in a report on Wednesday, July 1st. Morgan Stanley reduced their price target on Alcoa from $53.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 7th. Zacks Research upgraded Alcoa from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Finally, B. Riley Financial lowered their price objective on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Seven investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.17.

Insider Activity at Alcoa

In other news, EVP Renato Bacchi sold 700 shares of Alcoa 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 completion of the transaction, the executive vice president directly owned 74,930 shares of the company’s stock, valued at $3,822,928.60. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Tammi Jones sold 15,628 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the transaction, the executive vice president owned 39,819 shares of the company’s stock, valued at approximately $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Alcoa Stock Performance

Shares of NYSE AA opened at $41.63 on Tuesday. The company has a 50 day simple moving average of $46.72 and a two-hundred day simple moving average of $55.82. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 7.19, a PEG ratio of 0.51 and a beta of 1.74. The company has a current ratio of 2.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Alcoa has a 12 month low of $35.12 and a 12 month high of $84.38.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.31. Alcoa had a return on equity of 24.58% and a net margin of 10.77%. The company had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the business earned $0.88 earnings per share. Alcoa’s quarterly revenue was up 23.7% on a year-over-year basis. As a group, analysts predict that Alcoa will post 6.69 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 27th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Alcoa’s dividend payout ratio (DPR) is presently 6.91%.

About Alcoa

Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.

The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.