US Bancorp DE cut its holdings in shares of Alcoa Co. (NYSE:AA – Get Rating) by 22.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,148 shares of the industrial products company’s stock after selling 2,424 shares during the period. US Bancorp DE’s holdings in Alcoa were worth $273,000 at the end of the most recent reporting period.
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Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fairfield Bush & CO. purchased a new position in Alcoa during the first quarter worth about $29,000. Ronald Blue Trust Inc. purchased a new position in Alcoa during the second quarter worth about $51,000. Neo Ivy Capital Management purchased a new position in Alcoa during the second quarter worth about $27,000. Emerson Wealth LLC purchased a new position in Alcoa during the second quarter worth about $29,000. Finally, Ritter Daniher Financial Advisory LLC DE purchased a new position in Alcoa during the second quarter worth about $33,000.
Alcoa Stock Performance
Alcoa stock opened at $52.19 on Thursday. The firm’s 50 day simple moving average is $47.82 and its 200 day simple moving average is $45.89. The company has a current ratio of 1.75, a quick ratio of 0.94 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $9.23 billion, a PE ratio of -61.40, a price-to-earnings-growth ratio of 6.54 and a beta of 2.41. Alcoa Co. has a 1-year low of $33.55 and a 1-year high of $98.09.
Alcoa (NYSE:AA – Get Rating) last posted its earnings results on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.85) by $0.15. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. Alcoa had a negative net margin of 0.82% and a positive return on equity of 13.18%. Alcoa’s revenue was down 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 EPS. As a group, analysts expect that Alcoa Co. will post 2.56 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
AA has been the topic of several analyst reports. Citigroup boosted their price target on shares of Alcoa from $45.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, January 19th. StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Monday. Credit Suisse Group dropped their target price on shares of Alcoa from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, October 20th. B. Riley boosted their target price on shares of Alcoa from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, January 19th. Finally, TheStreet cut shares of Alcoa from a “b-” rating to a “c-” rating in a research note on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.00.
About Alcoa
Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.
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