Guggenheim Capital LLC Sells 7,338 Shares of Alcoa Co. (NYSE:AA)

Guggenheim Capital LLC lowered its stake in shares of Alcoa Co. (NYSE:AA) by 46.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,308 shares of the industrial products company’s stock after selling 7,338 shares during the quarter. Guggenheim Capital LLC’s holdings in Alcoa were worth $314,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its position in Alcoa by 41.6% during the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock valued at $12,107,000 after purchasing an additional 92,201 shares in the last quarter. HB Wealth Management LLC purchased a new stake in Alcoa in the fourth quarter valued at about $211,000. Union Bancaire Privee UBP SA purchased a new stake in Alcoa in the fourth quarter valued at about $454,000. Ausbil Investment Management Ltd purchased a new stake in Alcoa in the fourth quarter valued at about $429,000. Finally, Fiduciary Alliance LLC purchased a new stake in Alcoa in the fourth quarter valued at about $1,147,000. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

AA opened at $25.69 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The firm has a fifty day moving average price of $29.91 and a 200 day moving average price of $36.45. Alcoa Co. has a 1 year low of $21.53 and a 1 year high of $47.77. The stock has a market cap of $6.65 billion, a P/E ratio of -160.56, a P/E/G ratio of 0.19 and a beta of 2.28.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Equities research analysts anticipate that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Tuesday, March 4th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Tuesday, March 4th. Alcoa’s dividend payout ratio is currently 12.05%.

Analysts Set New Price Targets

A number of equities research analysts have commented on AA shares. Bank of America reiterated an “underperform” rating and issued a $26.00 price target (down from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th. Jefferies Financial Group decreased their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley decreased their price target on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. B. Riley decreased their target price on Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, BMO Capital Markets increased their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and an average target price of $44.17.

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.