Systematic Financial Management LP cut its stake in shares of Alcoa Corp (NYSE:AA) by 37.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 790,357 shares of the industrial products company’s stock after selling 478,419 shares during the quarter. Alcoa comprises approximately 0.9% of Systematic Financial Management LP’s portfolio, making the stock its 17th biggest position. Systematic Financial Management LP owned approximately 0.43% of Alcoa worth $42,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently modified their holdings of AA. Point72 Asset Management L.P. bought a new stake in Alcoa in the 3rd quarter worth about $99,757,000. Dimensional Fund Advisors LP boosted its position in Alcoa by 88.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,700,684 shares of the industrial products company’s stock worth $125,898,000 after purchasing an additional 1,264,324 shares during the last quarter. Artemis Investment Management LLP boosted its position in Alcoa by 126.7% in the third quarter. Artemis Investment Management LLP now owns 1,677,985 shares of the industrial products company’s stock worth $78,236,000 after purchasing an additional 937,909 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Alcoa in the fourth quarter worth about $35,651,000. Finally, BlackRock Inc. boosted its position in Alcoa by 7.0% in the fourth quarter. BlackRock Inc. now owns 8,761,507 shares of the industrial products company’s stock worth $471,984,000 after purchasing an additional 570,178 shares during the last quarter.
In related news, COO Tomas Mar Sigurdsson sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total transaction of $513,700.00. Following the completion of the sale, the chief operating officer now directly owns 46,832 shares in the company, valued at approximately $2,405,759.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William F. Oplinger sold 229,475 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $52.86, for a total value of $12,130,048.50. Following the sale, the vice president now owns 108,915 shares of the company’s stock, valued at $5,757,246.90. The disclosure for this sale can be found here.
Shares of Alcoa Corp (NYSE:AA) opened at $48.59 on Wednesday. Alcoa Corp has a 1-year low of $29.55 and a 1-year high of $57.50. The firm has a market capitalization of $9,003.45, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.58 and a beta of 0.10. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.30 and a quick ratio of 0.86.
Alcoa (NYSE:AA) last issued its earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.19). The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. Alcoa had a return on equity of 7.20% and a net margin of 1.86%. Alcoa’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 earnings per share. sell-side analysts predict that Alcoa Corp will post 3.56 earnings per share for the current fiscal year.
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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