Fisher Asset Management LLC Cuts Stake in Alcoa Co. (NYSE:AA)

Fisher Asset Management LLC lowered its position in shares of Alcoa Co. (NYSE:AA) by 62.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 702,651 shares of the industrial products company’s stock after selling 1,169,548 shares during the period. Fisher Asset Management LLC’s holdings in Alcoa were worth $26,546,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. U S Global Investors Inc. acquired a new position in shares of Alcoa during the 4th quarter worth $189,000. Hosking Partners LLP grew its stake in shares of Alcoa by 8.8% during the 4th quarter. Hosking Partners LLP now owns 562,699 shares of the industrial products company’s stock worth $21,259,000 after purchasing an additional 45,275 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Alcoa during the 4th quarter worth $1,223,000. New York Life Investment Management LLC grew its stake in shares of Alcoa by 17.2% during the 4th quarter. New York Life Investment Management LLC now owns 27,236 shares of the industrial products company’s stock worth $1,029,000 after purchasing an additional 3,996 shares during the period. Finally, Oregon Public Employees Retirement Fund grew its stake in shares of Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a research note on Friday, January 17th. Jefferies Financial Group lowered their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Bank of America increased their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Morgan Stanley lowered their price objective on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.55.

Alcoa Price Performance

Alcoa stock opened at $31.33 on Tuesday. Alcoa Co. has a 12-month low of $26.57 and a 12-month high of $47.77. The stock has a market capitalization of $8.11 billion, a P/E ratio of -195.81, a P/E/G ratio of 0.19 and a beta of 2.43. The firm’s 50-day moving average is $36.41 and its two-hundred day moving average is $38.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86.

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

Alcoa Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.28%. Alcoa’s dividend payout ratio is currently -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.