Sendero Wealth Management LLC Has $713,000 Stock Position in Alcoa Co. (NYSE:AA)

Sendero Wealth Management LLC boosted its holdings in shares of Alcoa Co. (NYSE:AA) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,871 shares of the industrial products company’s stock after buying an additional 1,320 shares during the period. Sendero Wealth Management LLC’s holdings in Alcoa were worth $713,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC grew its position in Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after purchasing an additional 10,534,036 shares in the last quarter. State Street Corp lifted its holdings in Alcoa by 23.3% during the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after acquiring an additional 1,805,915 shares during the period. Dimensional Fund Advisors LP boosted its position in Alcoa by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after purchasing an additional 390,930 shares during the last quarter. Geode Capital Management LLC grew its stake in Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after purchasing an additional 1,239,479 shares during the period. Finally, ARGA Investment Management LP increased its position in shares of Alcoa by 1.5% during the 3rd quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock valued at $89,267,000 after purchasing an additional 34,878 shares during the last quarter. 82.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AA shares. Jefferies Financial Group cut their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Bank of America boosted their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 28th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets raised their target price on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.45.

Alcoa Price Performance

Alcoa stock opened at $38.19 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa Co. has a one year low of $24.86 and a one year high of $47.77. The firm has a market capitalization of $9.87 billion, a P/E ratio of -21.70, a PEG ratio of 0.79 and a beta of 2.47. The business has a fifty day moving average price of $41.09 and a 200-day moving average price of $37.78.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm earned ($1.14) EPS. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alcoa Co. will post 0.9 EPS for the current year.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.08% of the stock is owned by company insiders.

Alcoa Profile

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.