Hollencrest Capital Management Decreases Stock Holdings in Alcoa Co. (NYSE:AA)

Hollencrest Capital Management trimmed its holdings in Alcoa Co. (NYSE:AA) by 7.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 128,365 shares of the industrial products company’s stock after selling 10,000 shares during the quarter. Hollencrest Capital Management’s holdings in Alcoa were worth $4,952,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Confluence Investment Management LLC boosted its position in shares of Alcoa by 14.3% in the 3rd quarter. Confluence Investment Management LLC now owns 13,063 shares of the industrial products company’s stock valued at $504,000 after purchasing an additional 1,635 shares during the period. Amalgamated Bank boosted its holdings in shares of Alcoa by 35.2% in the third quarter. Amalgamated Bank now owns 122,780 shares of the industrial products company’s stock valued at $4,737,000 after acquiring an additional 31,948 shares in the last quarter. Impax Asset Management Group plc purchased a new position in Alcoa during the third quarter worth about $664,000. QRG Capital Management Inc. boosted its holdings in Alcoa by 21.5% in the 3rd quarter. QRG Capital Management Inc. now owns 7,781 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 1,378 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Alcoa by 43.4% during the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock worth $11,361,000 after purchasing an additional 82,073 shares during the period.

Insiders Place Their Bets

In other Alcoa 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 value of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Alcoa Stock Down 3.8 %

NYSE AA traded down $1.73 during mid-day trading on Friday, reaching $43.96. 1,360,041 shares of the company’s stock traded hands, compared to its average volume of 5,863,574. The company has a fifty day simple moving average of $37.52 and a 200-day simple moving average of $37.35. Alcoa Co. has a 1-year low of $23.80 and a 1-year high of $46.55. The company has a market cap of $11.36 billion, a price-to-earnings ratio of -25.97, a P/E/G ratio of 0.78 and a beta of 2.42. 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 (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.34. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the company earned ($1.14) earnings per share. Alcoa’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, equities research analysts expect that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.91%. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AA. UBS Group boosted 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. 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. JPMorgan Chase & Co. upped their target price on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, October 23rd. Finally, B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $41.00 to $50.00 in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.75.

About Alcoa

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.