Barclays PLC Sells 686,834 Shares of Alcoa Co. (NYSE:AA)

Barclays PLC reduced its position in shares of Alcoa Co. (NYSE:AA) by 69.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 306,812 shares of the industrial products company’s stock after selling 686,834 shares during the quarter. Barclays PLC’s holdings in Alcoa were worth $11,840,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mountaineer Partners Management LLC grew its stake in shares of Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after acquiring an additional 10,534,036 shares during the period. State Street Corp boosted its position in shares of Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after purchasing an additional 1,805,915 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alcoa by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after purchasing an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Alcoa during the 2nd quarter valued at $93,061,000. Finally, ARGA Investment Management LP lifted its stake in shares of Alcoa by 1.5% during the 3rd quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock valued at $89,267,000 after buying an additional 34,878 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Wednesday, September 4th. BMO Capital Markets boosted their price target on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Bank of America increased their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Thursday, November 28th. Morgan Stanley boosted their target price on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.73.

Alcoa Stock Down 1.7 %

Shares of NYSE:AA opened at $38.46 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The business has a 50 day simple moving average of $42.63 and a two-hundred day simple moving average of $38.22. Alcoa Co. has a 1 year low of $24.86 and a 1 year high of $47.77. The firm has a market capitalization of $9.94 billion, a PE ratio of -21.85, a price-to-earnings-growth ratio of 0.79 and a beta of 2.44.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the business posted ($1.14) EPS. On average, equities analysts predict that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio is -22.73%.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $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 accessible through this link. Insiders own 1.08% of the company’s stock.

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.