Jacobs Levy Equity Management Inc. Trims Position in Alcoa Co. (NYSE:AA)

Jacobs Levy Equity Management Inc. decreased its position in shares of Alcoa Co. (NYSE:AA) by 0.3% during the first quarter, HoldingsChannel reports. The firm owned 295,576 shares of the industrial products company’s stock after selling 817 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Alcoa were worth $9,988,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AA. Daiwa Securities Group Inc. grew its position in Alcoa by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 26,485 shares of the industrial products company’s stock worth $900,000 after acquiring an additional 338 shares during the last quarter. Quent Capital LLC raised its holdings in Alcoa by 64.2% during the 4th quarter. Quent Capital LLC now owns 990 shares of the industrial products company’s stock valued at $34,000 after buying an additional 387 shares during the last quarter. Diversified Trust Co grew its stake in shares of Alcoa by 5.7% in the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 416 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of Alcoa by 0.7% during the fourth quarter. Yousif Capital Management LLC now owns 87,960 shares of the industrial products company’s stock valued at $2,991,000 after acquiring an additional 574 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after buying an additional 576 shares during the period.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent research reports. Jefferies Financial Group upped their price objective on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. B. Riley lifted their price target on Alcoa from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Bank of America cut their price objective on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. BMO Capital Markets lifted their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Finally, UBS Group raised their price target on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.80.

Alcoa Stock Performance

Shares of NYSE AA traded up $1.32 during trading on Wednesday, hitting $33.09. The company had a trading volume of 3,128,036 shares, compared to its average volume of 5,920,179. The stock has a 50 day simple moving average of $39.34 and a 200 day simple moving average of $34.74. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. Alcoa Co. has a 12 month low of $23.07 and a 12 month high of $45.48.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the business posted ($0.35) earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Equities analysts forecast that Alcoa Co. will post 0.53 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.40 annualized dividend and a dividend yield of 1.21%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

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.