Corebridge Financial Inc. Sells 13,184 Shares of Alcoa Co. (NYSE:AA)

Corebridge Financial Inc. decreased its position in shares of Alcoa Co. (NYSE:AA) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 292,255 shares of the industrial products company’s stock after selling 13,184 shares during the quarter. Corebridge Financial Inc. owned 0.11% of Alcoa worth $11,041,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent analyst reports. BMO Capital Markets lifted their target price on Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. B. Riley raised shares of Alcoa to a “strong-buy” rating in a report on Tuesday, January 21st. 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. HC Wainwright boosted their target price on shares of Alcoa to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley dropped their price target on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $50.17.

Alcoa Stock Down 1.1 %

Alcoa stock opened at $33.35 on Thursday. The firm has a 50 day moving average price of $35.07 and a two-hundred day moving average price of $38.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa Co. has a 52-week low of $27.12 and a 52-week high of $47.77. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of -208.41, a PEG ratio of 0.19 and a beta of 2.55.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating 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 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were issued a $0.10 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.20%. Alcoa’s payout ratio is currently -250.00%.

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.