Alcoa $AA Shares Sold by South Dakota Investment Council

South Dakota Investment Council lowered its holdings in shares of Alcoa (NYSE:AA) by 78.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,304 shares of the industrial products company’s stock after selling 49,079 shares during the period. South Dakota Investment Council’s holdings in Alcoa were worth $882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. NewEdge Advisors LLC increased its stake in Alcoa by 1,098.0% during the 1st quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock valued at $357,000 after buying an additional 10,727 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Alcoa by 0.7% in 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 worth $19,722,000 after acquiring an additional 4,624 shares during the period. Invesco Ltd. boosted its holdings in shares of Alcoa by 1.9% in the second quarter. Invesco Ltd. now owns 640,528 shares of the industrial products company’s stock valued at $18,902,000 after acquiring an additional 12,008 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock valued at $60,000 after acquiring an additional 1,295 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Alcoa by 320.1% in the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock valued at $7,967,000 after acquiring an additional 205,717 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

Alcoa Price Performance

Shares of NYSE:AA opened at $45.31 on Friday. Alcoa has a one year low of $28.11 and a one year high of $84.38. The stock has a fifty day moving average of $57.44 and a 200-day moving average of $61.49. The company has a market capitalization of $11.96 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.51 and a beta of 1.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, July 16th. The industrial products company reported $2.12 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.13). The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same period in the prior year, the business earned $0.39 earnings per share. As a group, equities 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 will be paid on Thursday, August 27th. Investors of record on Tuesday, August 11th will be given a $0.10 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.9%. Alcoa’s dividend payout ratio (DPR) is 8.23%.

Wall Street Analyst Weigh In

AA has been the topic of several recent analyst reports. Zacks Research cut Alcoa from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 8th. B. Riley Financial decreased their price target on Alcoa from $92.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. UBS Group lowered their price target on Alcoa from $80.00 to $68.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Morgan Stanley reissued an “equal weight” rating and issued a $53.00 price objective (down from $79.00) on shares of Alcoa in a research note on Wednesday, July 8th. Finally, Wall Street Zen upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.09.

Alcoa Company 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.