Brevan Howard Capital Management LP Has $1.32 Million Stake in Alcoa Co. (NYSE:AA)

Brevan Howard Capital Management LP lowered its stake in Alcoa Co. (NYSE:AA) by 34.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,943 shares of the industrial products company’s stock after selling 18,406 shares during the quarter. Brevan Howard Capital Management LP’s holdings in Alcoa were worth $1,320,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. lifted its stake in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 296 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Alcoa during the fourth quarter worth $29,000. Smartleaf Asset Management LLC lifted its stake in shares of Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 393 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Alcoa by 78.5% during the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 598 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 1,157 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on AA. HC Wainwright lifted their price target on Alcoa to $90.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Morgan Stanley cut their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Bank of America restated an “underperform” rating and issued a $26.00 price objective (down from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. StockNews.com upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a report on Friday, April 18th. Finally, B. Riley reduced their price objective on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alcoa has an average rating of “Moderate Buy” and a consensus price target of $44.17.

Alcoa Trading Down 1.8 %

AA opened at $24.40 on Thursday. The company has a fifty day moving average price of $28.35 and a two-hundred day moving average price of $35.61. Alcoa Co. has a 1-year low of $21.53 and a 1-year high of $47.77. The company has a market cap of $6.32 billion, a P/E ratio of -152.48, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.42. The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. Analysts predict that Alcoa Co. will post 4.43 EPS for the current fiscal 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 issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s dividend payout ratio is currently 12.05%.

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.