Cloverfields Capital Group LP Sells 12,176 Shares of Alcoa $AA

Cloverfields Capital Group LP trimmed its holdings in shares of Alcoa (NYSE:AA) by 43.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,799 shares of the industrial products company’s stock after selling 12,176 shares during the quarter. Cloverfields Capital Group LP’s holdings in Alcoa were worth $840,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in AA. Basepoint Wealth LLC bought a new stake in shares of Alcoa in the fourth quarter valued at about $25,000. Advisory Services Network LLC purchased a new stake in shares of Alcoa during the third quarter worth about $27,000. Raleigh Capital Management Inc. grew its stake in shares of Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 525 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 237 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 581 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on AA shares. JPMorgan Chase & Co. upped their target price on Alcoa from $68.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. B. Riley Financial upped their price objective on Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, April 7th. BMO Capital Markets upped their price objective on Alcoa from $65.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, April 9th. Morgan Stanley set a $79.00 price target on shares of Alcoa in a report on Thursday. Finally, Zacks Research downgraded Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $68.50.

Alcoa Stock Down 0.4%

Alcoa stock opened at $68.69 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.88 and a current ratio of 1.48. The firm has a 50 day moving average price of $69.43 and a 200 day moving average price of $61.33. Alcoa has a fifty-two week low of $27.72 and a fifty-two week high of $84.38. The company has a market capitalization of $18.13 billion, a PE ratio of 17.39 and a beta of 1.56.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a net margin of 8.27% and a return on equity of 12.57%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 earnings per share. Research analysts expect that Alcoa will post 7.89 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 5th. Shareholders of record on Tuesday, May 19th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, May 19th. Alcoa’s dividend payout ratio (DPR) is currently 10.13%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.