Natixis Advisors LLC Sells 9,720 Shares of Alcoa Co. (NYSE:AA)

Natixis Advisors LLC cut its holdings in Alcoa Co. (NYSE:AA) by 49.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,066 shares of the industrial products company’s stock after selling 9,720 shares during the period. Natixis Advisors LLC’s holdings in Alcoa were worth $388,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new position in Alcoa during the 2nd quarter valued at about $27,000. UMB Bank n.a. grew its holdings in Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares during the last quarter. Fifth Third Bancorp grew its holdings in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares during the last quarter. William B. Walkup & Associates Inc. bought a new position in Alcoa during the 2nd quarter valued at about $102,000. Finally, Blue Trust Inc. grew its holdings in Alcoa by 536.7% during the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 2,426 shares during the last quarter.

Alcoa Price Performance

Shares of AA opened at $45.88 on Friday. The company has a 50 day moving average price of $41.22 and a 200-day moving average price of $38.15. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77. The stock has a market capitalization of $11.85 billion, a PE ratio of -26.07, a PEG ratio of 0.89 and a beta of 2.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the prior year, the company earned ($1.14) EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.87%. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Analysts Set New Price Targets

Several equities analysts recently commented on AA shares. Morgan Stanley upped their price target on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Bank of America boosted their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. Finally, Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Wednesday, September 4th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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.