Alcoa $AA Shares Sold by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its position in Alcoa (NYSE:AA) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,616 shares of the industrial products company’s stock after selling 852 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Alcoa were worth $608,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AA. Wealth Enhancement Advisory Services LLC raised its stake in Alcoa by 14.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,467 shares of the industrial products company’s stock valued at $395,000 after purchasing an additional 1,337 shares during the last quarter. Versant Capital Management Inc raised its stake in Alcoa by 134.7% in the 1st quarter. Versant Capital Management Inc now owns 906 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 520 shares during the last quarter. GAMMA Investing LLC raised its stake in Alcoa by 4,743.7% in the 1st quarter. GAMMA Investing LLC now owns 70,089 shares of the industrial products company’s stock valued at $2,298,000 after purchasing an additional 68,642 shares during the last quarter. Rhumbline Advisers grew its holdings in Alcoa by 1.3% in the 1st quarter. Rhumbline Advisers now owns 697,655 shares of the industrial products company’s stock valued at $21,278,000 after buying an additional 8,871 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Alcoa during the 1st quarter valued at about $217,000.

Analysts Set New Price Targets

A number of research analysts have recently commented on AA shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Alcoa in a research note on Saturday, September 27th. JPMorgan Chase & Co. dropped their price objective on shares of Alcoa from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Wall Street Zen downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Sunday, June 22nd. Bank of America upped their price objective on shares of Alcoa from $26.00 to $27.00 and gave the company an “underperform” rating in a research note on Thursday, July 17th. Finally, Morgan Stanley dropped their price objective on shares of Alcoa from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, July 18th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $42.27.

Alcoa Stock Down 0.9%

NYSE AA opened at $34.50 on Friday. The stock has a market cap of $8.93 billion, a PE ratio of 9.01, a P/E/G ratio of 0.21 and a beta of 2.20. Alcoa has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The business has a 50 day moving average price of $31.49 and a two-hundred day moving average price of $29.32. The company has a quick ratio of 0.97, a current ratio of 1.65 and a debt-to-equity ratio of 0.41.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 16th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.10. The firm had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Alcoa had a return on equity of 19.18% and a net margin of 7.86%.Alcoa’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 EPS. As a group, sell-side analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Tuesday, August 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, August 12th. Alcoa’s dividend payout ratio is currently 10.44%.

About Alcoa

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.