Corecam Pte. Ltd. Sells 50,900 Shares of Alcoa $AA

Corecam Pte. Ltd. reduced its position in Alcoa (NYSE:AA) by 32.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 104,080 shares of the industrial products company’s stock after selling 50,900 shares during the period. Alcoa makes up about 2.9% of Corecam Pte. Ltd.’s investment portfolio, making the stock its 15th largest position. Corecam Pte. Ltd.’s holdings in Alcoa were worth $5,531,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Basepoint Wealth LLC purchased a new position in shares of Alcoa during the 4th quarter valued at about $25,000. Advisory Services Network LLC bought a new stake in shares of Alcoa in the 3rd quarter worth about $27,000. Raleigh Capital Management Inc. boosted its stake in shares of Alcoa by 52,500.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 525 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Alcoa by 74.1% during the 4th quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 237 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Alcoa by 5,281.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 581 shares during the last quarter.

Analyst Ratings Changes

Several brokerages have issued reports on AA. UBS Group raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $80.00 in a research note on Friday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Wall Street Zen lowered Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley set a $79.00 price objective on Alcoa in a research note on Thursday, June 11th. Finally, Wells Fargo & Company set a $68.00 price objective on Alcoa in a research report on Thursday, March 12th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.50.

Alcoa Trading Down 0.1%

NYSE AA opened at $59.33 on Friday. The firm’s fifty day moving average price is $68.41 and its 200 day moving average price is $62.06. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 15.02 and a beta of 1.56. Alcoa has a 12 month low of $27.72 and a 12 month high of $84.38. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.48 and a quick ratio of 0.88.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing the consensus estimate of $1.60 by ($0.20). The company had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.Alcoa’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.15 earnings per share. On average, sell-side analysts expect that Alcoa will post 8.48 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Tuesday, May 19th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. Alcoa’s payout ratio is presently 10.13%.

Alcoa Profile

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.