D.A. Davidson & CO. Has $506,000 Holdings in Alcoa Co. (NYSE:AA)

D.A. Davidson & CO. trimmed its position in shares of Alcoa Co. (NYSE:AA) by 1.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,110 shares of the industrial products company’s stock after selling 250 shares during the period. D.A. Davidson & CO.’s holdings in Alcoa were worth $506,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in shares of Alcoa by 15.1% in 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. Blue Trust Inc. grew its position in Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 344 shares during the last quarter. Pacer Advisors Inc. raised its stake in Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after acquiring an additional 368 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of Alcoa by 15.3% in the third quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 459 shares during the last quarter. Finally, Eads & Heald Wealth Management lifted its holdings in shares of Alcoa by 6.6% in the third quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 517 shares during the last quarter.

Analyst Ratings Changes

AA has been the topic of several research reports. BMO Capital Markets lifted their price target on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price 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 assigned a buy rating to the company. According to data from MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the firm’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 sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Alcoa Stock Up 0.4 %

Shares of AA stock opened at $45.90 on Wednesday. The business’s 50 day simple moving average is $41.93 and its 200 day simple moving average is $38.26. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa Co. has a one year low of $23.80 and a one year high of $47.77.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the firm posted ($1.14) EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities analysts anticipate that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

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

About Alcoa

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.