Fifth Third Bancorp Cuts Position in Alcoa Co. (NYSE:AA)

Fifth Third Bancorp trimmed its position in shares of Alcoa Co. (NYSE:AA) by 35.3% during the 4th quarter, Holdings Channel reports. The fund owned 1,886 shares of the industrial products company’s stock after selling 1,027 shares during the period. Fifth Third Bancorp’s holdings in Alcoa were worth $71,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in Alcoa by 12.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 18,642 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 2,000 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of Alcoa by 3.2% in the 4th quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after buying an additional 279 shares during the last quarter. UMB Bank n.a. raised its position in shares of Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after buying an additional 598 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of Alcoa in the 4th quarter valued at about $211,000. Finally, Sendero Wealth Management LLC grew its position in Alcoa by 7.5% in the fourth quarter. Sendero Wealth Management LLC now owns 18,871 shares of the industrial products company’s stock worth $713,000 after acquiring an additional 1,320 shares in the last quarter.

Analysts Set New Price Targets

A number of brokerages have issued reports on AA. JPMorgan Chase & Co. upped their price objective on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. UBS Group raised their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Morgan Stanley reduced their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Jefferies Financial Group dropped their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Bank of America increased their price target on Alcoa to $58.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.55.

Alcoa Stock Down 0.5 %

NYSE:AA opened at $35.36 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The firm has a market cap of $9.13 billion, a PE ratio of -220.98, a price-to-earnings-growth ratio of 0.19 and a beta of 2.47. The company has a 50-day moving average of $39.29 and a 200 day moving average of $37.51. Alcoa Co. has a 1-year low of $24.86 and a 1-year high of $47.77.

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

Alcoa 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.