Global Alpha Capital Management Ltd. Sells 120,200 Shares of Alcoa Co. (NYSE:AA)

Global Alpha Capital Management Ltd. cut its position in shares of Alcoa Co. (NYSE:AA) by 12.8% in the fourth quarter, HoldingsChannel reports. The firm owned 817,210 shares of the industrial products company’s stock after selling 120,200 shares during the period. Alcoa comprises about 2.2% of Global Alpha Capital Management Ltd.’s investment portfolio, making the stock its 21st largest holding. Global Alpha Capital Management Ltd.’s holdings in Alcoa were worth $30,874,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Alcoa during the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its holdings in Alcoa by 59.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company’s stock worth $39,000 after buying an additional 393 shares during the period. Quarry LP bought a new stake in Alcoa during the 3rd quarter valued at $43,000. Continuum Advisory LLC increased its holdings in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 1,070 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Alcoa by 78.5% in the 4th quarter. UMB Bank n.a. now owns 1,360 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 598 shares during the period. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. B. Riley upgraded shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Morgan Stanley lowered their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their price target on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Price Performance

Shares of AA opened at $32.84 on Friday. The firm has a market capitalization of $8.50 billion, a PE ratio of -205.27, a price-to-earnings-growth ratio of 0.19 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The company’s fifty day moving average price is $36.02 and its 200-day moving average price is $37.94. Alcoa Co. has a 1-year low of $27.12 and a 1-year high of $47.77.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, equities research analysts predict that Alcoa Co. will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, March 4th. Alcoa’s payout ratio is -250.00%.

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.