Alcoa Co. (NYSE:AA) Shares Sold by Washburn Capital Management Inc.

Washburn Capital Management Inc. lessened its holdings in shares of Alcoa Co. (NYSE:AA) by 28.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,260 shares of the industrial products company’s stock after selling 6,583 shares during the period. Alcoa makes up 0.4% of Washburn Capital Management Inc.’s holdings, making the stock its 22nd biggest position. Washburn Capital Management Inc.’s holdings in Alcoa were worth $627,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of Alcoa by 6.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after buying an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in Alcoa in the 2nd quarter valued at about $93,061,000. L1 Capital Pty Ltd acquired a new position in Alcoa in the first quarter valued at approximately $72,658,000. Capital Research Global Investors raised its holdings in Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after buying an additional 475,000 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock worth $49,958,000 after purchasing an additional 444,393 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AA. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and lifted their target price for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Wednesday, September 4th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, October 23rd. B. Riley Financial restated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Alcoa Stock Performance

NYSE:AA traded down $0.97 during mid-day trading on Monday, reaching $40.13. The stock had a trading volume of 892,650 shares, compared to its average volume of 5,910,935. Alcoa Co. has a twelve month low of $23.80 and a twelve month high of $45.48. The business has a 50 day simple moving average of $35.97 and a 200 day simple moving average of $36.98. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of -10.93 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period in the prior year, the company posted ($1.14) EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts expect that Alcoa Co. will post 0.29 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

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.