Alcoa Co. (NYSE:AA) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lessened its position in shares of Alcoa Co. (NYSE:AA) by 0.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 295,576 shares of the industrial products company’s stock after selling 817 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.16% of Alcoa worth $9,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. L1 Capital Pty Ltd purchased a new position in Alcoa during the first quarter worth $72,658,000. Bayesian Capital Management LP purchased a new stake in Alcoa during the 1st quarter worth about $1,423,000. Bornite Capital Management LP purchased a new position in Alcoa in the 1st quarter valued at about $1,690,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock worth $49,958,000 after purchasing an additional 444,393 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of Alcoa during the first quarter worth about $593,000.

Analyst Ratings Changes

A number of brokerages have recently commented on AA. BMO Capital Markets lifted their price objective on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. B. Riley raised their target price on shares of 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 dropped their price target on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. 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. According to MarketBeat, Alcoa presently has a consensus rating of “Hold” and a consensus price target of $38.80.

Alcoa Stock Performance

AA stock traded up $1.32 during mid-day trading on Wednesday, reaching $33.09. 3,128,036 shares of the stock traded hands, compared to its average volume of 5,920,179. Alcoa Co. has a 52-week low of $23.07 and a 52-week high of $45.48. The stock’s fifty day moving average is $39.34 and its 200-day moving average is $34.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company earned ($0.35) EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts expect that Alcoa Co. will post 0.53 earnings per share for the current year.

Alcoa Announces Dividend

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

Alcoa Company 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.