JTC Employer Solutions Trustee Ltd Sells 45,000 Shares of Alcoa Co. (NYSE:AA)

JTC Employer Solutions Trustee Ltd trimmed its position in shares of Alcoa Co. (NYSE:AA) by 47.2% during the 1st quarter, HoldingsChannel reports. The fund owned 50,437 shares of the industrial products company’s stock after selling 45,000 shares during the quarter. JTC Employer Solutions Trustee Ltd’s holdings in Alcoa were worth $1,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Alcoa during the first quarter valued at about $422,000. State of Michigan Retirement System boosted its holdings in Alcoa by 2.6% during the first quarter. State of Michigan Retirement System now owns 43,875 shares of the industrial products company’s stock valued at $1,483,000 after purchasing an additional 1,100 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Alcoa by 15.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 14,344 shares of the industrial products company’s stock valued at $485,000 after purchasing an additional 1,867 shares in the last quarter. Diversified Trust Co boosted its holdings in Alcoa by 5.7% during the first quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 416 shares in the last quarter. Finally, ARGA Investment Management LP boosted its holdings in Alcoa by 202.2% during the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after purchasing an additional 997,912 shares in the last quarter. 82.39% of the stock is currently owned by institutional investors.

Alcoa Trading Up 3.8 %

Shares of Alcoa stock traded up $1.55 on Wednesday, hitting $42.38. 4,073,866 shares of the company’s stock traded hands, compared to its average volume of 5,919,621. The firm’s 50-day moving average price is $39.84 and its two-hundred day moving average price is $34.13. The stock has a market capitalization of $7.61 billion, a PE ratio of -11.27 and a beta of 2.45. Alcoa Co. has a one year low of $23.07 and a one year high of $45.48. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the firm posted ($0.23) EPS. The business’s revenue was down 2.7% on a year-over-year basis. On average, research analysts expect that Alcoa Co. will post 1.23 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Tuesday, May 21st were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Monday, May 20th. Alcoa’s dividend payout ratio is currently -10.64%.

Analyst Ratings Changes

Several research analysts have recently commented on AA shares. BMO Capital Markets boosted their target price on Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Citigroup boosted their target price on Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Morgan Stanley raised Alcoa from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $36.50 to $50.00 in a report on Friday, June 21st. Bank of America boosted their target price on Alcoa from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Wednesday, June 26th. Finally, UBS Group boosted their target price on Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Alcoa has a consensus rating of “Hold” and an average target price of $37.33.

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.