Recurrent Investment Advisors LLC Lowers Holdings in Alcoa $AA

Recurrent Investment Advisors LLC reduced its stake in shares of Alcoa (NYSE:AA) by 56.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 15,130 shares of the industrial products company’s stock after selling 19,902 shares during the period. Recurrent Investment Advisors LLC’s holdings in Alcoa were worth $1,004,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basepoint Wealth LLC purchased a new position in shares of Alcoa during the 4th quarter valued at about $25,000. Raleigh Capital Management Inc. boosted its stake in shares of Alcoa by 52,500.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after buying an additional 525 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Alcoa by 74.1% in the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 581 shares during the period. Finally, Quarry LP grew its holdings in Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 340 shares during the period. 82.39% of the stock is owned by institutional investors and hedge funds.

Alcoa Stock Performance

NYSE AA opened at $44.38 on Wednesday. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 0.50 and a beta of 1.63. Alcoa has a twelve month low of $28.11 and a twelve month high of $84.38. The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $58.81 and a 200 day moving average of $61.87.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.13). The business had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Alcoa had a net margin of 9.48% and a return on equity of 18.90%. During the same quarter last year, the firm earned $0.39 earnings per share. Sell-side analysts anticipate that Alcoa will post 6.55 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.9%. Alcoa’s dividend payout ratio (DPR) is currently 8.23%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank Of Canada set a $70.00 price target on Alcoa in a report on Wednesday, July 1st. Weiss Ratings upgraded Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, June 17th. Zacks Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 8th. Argus cut their target price on shares of Alcoa from $73.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, July 22nd. Finally, BMO Capital Markets decreased their target price on shares of Alcoa from $60.00 to $55.00 and set a “market perform” rating for the company in a research note on Friday, July 17th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.09.

About Alcoa

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.