Alcoa Co. (NYSE:AA) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its holdings in Alcoa Co. (NYSE:AA) by 62.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 702,651 shares of the industrial products company’s stock after selling 1,169,548 shares during the period. Fisher Asset Management LLC owned approximately 0.27% of Alcoa worth $26,546,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Quarry LP acquired a new position in Alcoa during the 3rd quarter worth approximately $43,000. Continuum Advisory LLC grew its holdings in Alcoa by 1,945.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after acquiring an additional 1,070 shares in the last quarter. UMB Bank n.a. grew its holdings in Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 598 shares in the last quarter. GAMMA Investing LLC grew its holdings in Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 1,157 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in Alcoa during the 3rd quarter worth approximately $89,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group lowered their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Bank of America boosted their price objective on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Finally, Morgan Stanley reduced their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Stock Down 5.8 %

AA stock opened at $31.33 on Tuesday. The company has a fifty day moving average price of $36.41 and a 200 day moving average price of $38.02. Alcoa Co. has a 12 month low of $26.57 and a 12 month high of $47.77. The company has a market cap of $8.11 billion, a price-to-earnings ratio of -195.81, a price-to-earnings-growth ratio of 0.19 and a beta of 2.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Sell-side analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.28%. Alcoa’s payout ratio is currently -250.00%.

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.