Carmel Capital Partners LLC Sells 13,525 Shares of Alcoa Co. (NYSE:AA)

Carmel Capital Partners LLC trimmed its holdings in Alcoa Co. (NYSE:AA) by 39.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,701 shares of the industrial products company’s stock after selling 13,525 shares during the quarter. Carmel Capital Partners LLC’s holdings in Alcoa were worth $799,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AA. Newbridge Financial Services Group Inc. bought a new stake in shares of Alcoa during the 2nd quarter valued at about $27,000. UMB Bank n.a. grew its stake in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares during the period. Toronto Dominion Bank grew its stake in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares during the period. Fifth Third Bancorp grew its stake in shares of Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares during the period. Finally, William B. Walkup & Associates Inc. bought a new stake in shares of Alcoa during the 2nd quarter valued at about $102,000. 82.39% of the stock is currently owned by institutional investors.

Insider Transactions at Alcoa

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on AA. 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. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Wednesday, September 4th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets boosted their price objective on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $44.75.

Alcoa Stock Down 2.0 %

NYSE AA opened at $44.79 on Friday. The stock’s 50 day moving average is $37.77 and its 200 day moving average is $37.41. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa Co. has a 12 month low of $23.80 and a 12 month high of $46.55. The stock has a market cap of $11.57 billion, a PE ratio of -25.45, a P/E/G ratio of 0.78 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.14) EPS. Research analysts predict that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.89%. Alcoa’s dividend payout ratio (DPR) is -22.73%.

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.