Regal Partners Ltd Trims Holdings in Alcoa Co. (NYSE:AA)

Regal Partners Ltd trimmed its position in Alcoa Co. (NYSE:AA) by 42.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,710 shares of the industrial products company’s stock after selling 149,623 shares during the period. Alcoa comprises about 0.8% of Regal Partners Ltd’s investment portfolio, making the stock its 24th largest position. Regal Partners Ltd’s holdings in Alcoa were worth $7,810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AA. Norges Bank acquired a new stake in Alcoa in the fourth quarter valued at approximately $259,273,000. Northern Trust Corp grew its position in Alcoa by 46.8% in the fourth quarter. Northern Trust Corp now owns 2,549,608 shares of the industrial products company’s stock valued at $96,324,000 after acquiring an additional 813,214 shares in the last quarter. ARGA Investment Management LP grew its position in Alcoa by 29.6% in the fourth quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after acquiring an additional 684,505 shares in the last quarter. Wellington Management Group LLP grew its position in Alcoa by 488.2% in the fourth quarter. Wellington Management Group LLP now owns 802,547 shares of the industrial products company’s stock valued at $30,320,000 after acquiring an additional 666,117 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Alcoa by 96.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,065,125 shares of the industrial products company’s stock valued at $40,240,000 after acquiring an additional 522,039 shares in the last quarter. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AA. StockNews.com raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Friday, April 18th. HC Wainwright increased their price objective on shares of Alcoa to $90.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. UBS Group lowered their price objective on shares of Alcoa from $47.00 to $32.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price target on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Finally, BMO Capital Markets raised their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $44.17.

Alcoa Price Performance

AA opened at $25.18 on Wednesday. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of -157.38, a price-to-earnings-growth ratio of 0.19 and a beta of 2.28. Alcoa Co. has a fifty-two week low of $21.53 and a fifty-two week high of $47.77. The company’s 50-day moving average price is $29.45 and its 200 day moving average price is $36.26. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.42. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.58 billion. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. As a group, sell-side analysts expect that Alcoa Co. will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. Alcoa’s payout ratio is currently 12.05%.

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.