Leonteq Securities AG Sells 19,108 Shares of Alcoa $AA

Leonteq Securities AG trimmed its holdings in shares of Alcoa (NYSE:AA) by 91.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,892 shares of the industrial products company’s stock after selling 19,108 shares during the quarter. Leonteq Securities AG’s holdings in Alcoa were worth $125,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AA. NewEdge Advisors LLC raised its position in Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after purchasing an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Alcoa by 0.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 646,609 shares of the industrial products company’s stock valued at $19,722,000 after purchasing an additional 4,624 shares during the last quarter. Invesco Ltd. increased its position in shares of Alcoa by 1.9% during the 2nd quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after purchasing an additional 12,008 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Alcoa by 173.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after buying an additional 1,295 shares during the period. Finally, First Trust Advisors LP raised its holdings in Alcoa by 320.1% during the 2nd quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after buying an additional 205,717 shares during the period.

Analyst Ratings Changes

Several research firms have commented on AA. Citigroup lifted their price objective on shares of Alcoa from $54.00 to $76.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Wall Street Zen cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 17th. BMO Capital Markets increased their price objective on shares of Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $79.00 price objective on shares of Alcoa in a research note on Wednesday, July 1st. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $66.36.

Alcoa Trading Down 1.8%

NYSE AA opened at $48.97 on Wednesday. The stock has a market cap of $12.92 billion, a PE ratio of 12.40, a PEG ratio of 0.77 and a beta of 1.63. Alcoa has a 12 month low of $28.11 and a 12 month high of $84.38. The company’s 50-day moving average price is $64.21 and its 200-day moving average price is $62.80. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. Alcoa’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period last year, the firm earned $2.15 earnings per share. Equities research analysts forecast that Alcoa will post 7.54 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is presently 10.13%.

Alcoa Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.