Douglas Lane & Associates LLC Sells 33,265 Shares of Alcoa Co. (NYSE:AA)

Douglas Lane & Associates LLC trimmed its holdings in shares of Alcoa Co. (NYSE:AA) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,388,690 shares of the industrial products company’s stock after selling 33,265 shares during the period. Douglas Lane & Associates LLC’s holdings in Alcoa were worth $52,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Retirement Systems of Alabama increased its stake in shares of Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after purchasing an additional 92,201 shares during the last quarter. ING Groep NV bought a new position in Alcoa during the third quarter valued at $10,201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Alcoa by 6.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock worth $24,233,000 after buying an additional 36,869 shares during the last quarter. Aigen Investment Management LP raised its stake in shares of Alcoa by 73.0% in the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after buying an additional 15,546 shares during the period. Finally, Mountaineer Partners Management LLC lifted its position in shares of Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after buying an additional 10,534,036 shares during the last quarter. 82.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.08% of the company’s stock.

Alcoa Stock Down 1.1 %

AA traded down $0.41 during trading on Wednesday, hitting $35.83. 2,074,561 shares of the company’s stock traded hands, compared to its average volume of 4,307,731. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The company’s 50 day simple moving average is $41.56 and its two-hundred day simple moving average is $37.90. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of -20.36, a PEG ratio of 0.79 and a beta of 2.47.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.14) earnings per share. Analysts predict that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio is presently -22.73%.

Wall Street Analyst Weigh In

AA has been the subject of a number of research reports. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. UBS Group raised their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America increased their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 28th. Finally, B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Moderate Buy” and an average target price of $46.45.

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.