Alcoa $AA Shares Sold by Mountaineer Partners Management LLC

Mountaineer Partners Management LLC lessened its holdings in Alcoa (NYSE:AA) by 18.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 241,994 shares of the industrial products company’s stock after selling 54,648 shares during the period. Alcoa accounts for approximately 7.2% of Mountaineer Partners Management LLC’s investment portfolio, making the stock its 5th biggest holding. Mountaineer Partners Management LLC’s holdings in Alcoa were worth $12,860,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC acquired a new position in Alcoa in the fourth quarter worth $25,000. Raleigh Capital Management Inc. boosted its holdings in 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 purchasing an additional 525 shares during the period. CoreCap Advisors LLC boosted its holdings in 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 purchasing an additional 237 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Alcoa by 5,281.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 581 shares during the period. Finally, Quarry LP boosted its holdings in Alcoa by 96.0% in the fourth quarter. Quarry LP now owns 694 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 340 shares during the period.

Alcoa Price Performance

Shares of NYSE AA opened at $68.69 on Monday. Alcoa has a fifty-two week low of $27.72 and a fifty-two week high of $84.38. The firm’s 50-day simple moving average is $69.43 and its 200 day simple moving average is $61.49. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.36. The stock has a market cap of $18.13 billion, a P/E ratio of 17.39 and a beta of 1.56.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm earned $2.15 earnings per share. Alcoa’s revenue for the quarter was down 5.2% compared to the same quarter last year. Equities analysts expect that Alcoa will post 7.89 EPS for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Tuesday, May 19th. Alcoa’s payout ratio is currently 10.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Argus set a $73.00 price target on shares of Alcoa in a report on Monday, April 27th. Citigroup boosted their price target on shares of Alcoa from $54.00 to $76.00 and gave the company a “buy” rating in a report on Monday, March 16th. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a report on Thursday, March 12th. Morgan Stanley set a $79.00 price target on shares of Alcoa in a report on Thursday. Finally, Zacks Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and a consensus price target of $68.50.

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.