UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 26,052 Shares of Alcoa $AA

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Alcoa (NYSE:AA) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 584,502 shares of the industrial products company’s stock after selling 26,052 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Alcoa were worth $30,476,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its position in shares of Alcoa by 1,098.0% during the first quarter. NewEdge Advisors LLC now owns 11,704 shares of the industrial products company’s stock worth $357,000 after acquiring an additional 10,727 shares during the last quarter. Invesco Ltd. boosted its holdings in 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 during the last quarter. EverSource Wealth Advisors LLC increased its position in Alcoa by 173.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares during the period. First Trust Advisors LP increased its position in Alcoa by 320.1% in the second quarter. First Trust Advisors LP now owns 269,982 shares of the industrial products company’s stock worth $7,967,000 after purchasing an additional 205,717 shares during the period. Finally, Amundi raised its holdings in Alcoa by 21.7% during the 2nd quarter. Amundi now owns 408,561 shares of the industrial products company’s stock worth $12,878,000 after purchasing an additional 72,939 shares during the last quarter.

Alcoa Stock Up 0.1%

Shares of NYSE AA opened at $51.09 on Friday. The stock has a market cap of $13.48 billion, a P/E ratio of 10.51, a P/E/G ratio of 0.58 and a beta of 1.63. The firm has a 50 day moving average price of $48.72 and a 200 day moving average price of $59.65. 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 has a 52-week low of $30.58 and a 52-week high of $84.38.

Alcoa (NYSE:AA) last posted its earnings results 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 firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.99 billion. Alcoa had a return on equity of 18.90% and a net margin of 9.48%.During the same quarter last year, the business posted $0.39 earnings per share. Analysts expect that Alcoa will post 6.55 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, August 11th. Alcoa’s payout ratio is 8.23%.

Analyst Ratings Changes

A number of research firms have issued reports on AA. Wall Street Zen upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. dropped their price target on shares of Alcoa from $55.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, July 17th. B. Riley Financial cut their price objective on shares of Alcoa from $92.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings raised shares of Alcoa from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 17th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $53.00 target price (down from $79.00) on shares of Alcoa in a research report on Wednesday, July 8th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $61.09.

Insider Buying and Selling

In other news, EVP Tammi A. Jones sold 15,628 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the transaction, the executive vice president owned 39,819 shares in the company, valued at $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Renato Bacchi sold 700 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the sale, the executive vice president owned 74,930 shares in the company, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

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.