Douglas Lane Associates Lowers stake in Alcoa Inc (AA)

Alcoa Inc (AA) : Douglas Lane Associates reduced its stake in Alcoa Inc by 0.27% during the most recent quarter end. The investment management company now holds a total of 6,152,227 shares of Alcoa Inc which is valued at $66,074,918 after selling 16,755 shares in Alcoa Inc , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Alcoa Inc makes up approximately 1.79% of Douglas Lane Associates’s portfolio.

Other Hedge Funds, Including , Cordasco Financial Network reduced its stake in AA by selling 40 shares or 3.85% in the most recent quarter. The Hedge Fund company now holds 1,000 shares of AA which is valued at $10,740. Alcoa Inc makes up approx 0.01% of Cordasco Financial Network’s portfolio.Goelzer Investment Management boosted its stake in AA in the latest quarter, The investment management firm added 1,502 additional shares and now holds a total of 164,889 shares of Alcoa Inc which is valued at $1,742,877. Alcoa Inc makes up approx 0.23% of Goelzer Investment Management’s portfolio.Ls Investment Advisors reduced its stake in AA by selling 5,603 shares or 9.23% in the most recent quarter. The Hedge Fund company now holds 55,134 shares of AA which is valued at $582,766. Alcoa Inc makes up approx 0.04% of Ls Investment Advisors’s portfolio.

Alcoa Inc closed down -0.06 points or -0.56% at $10.62 with 1,64,19,775 shares getting traded on Friday. Post opening the session at $10.61, the shares hit an intraday low of $10.42 and an intraday high of $10.65 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Alcoa Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 11, 2016. Analyst had a consensus of $0.10. The company had revenue of $5295.00 million for the quarter, compared to analysts expectations of $5224.35 million. The company’s revenue was down -10.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.

Investors should note that on Jul 22, 2016, Alcoa Inc announced a cash dividend of $0.0300. The company’s management has announced Aug 3, 2016 as the ex-dividend date and fixed the record date on Aug 5, 2016. The payable date has been fixed on Aug 25, 2016.

Many Wall Street Analysts have commented on Alcoa Inc. Alcoa Inc was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016. Goldman Initiated Alcoa Inc on May 19, 2016 to “Neutral”, Price Target of the shares are set at $9.

Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina Primary Metals Global Rolled Products and Engineered Products and Solutions. Its products which include aluminum titanium and nickel are used in aircraft automobiles commercial transportation packaging building and construction oil and gas defense consumer electronics and industrial applications across the world. It also produces and manages primary aluminum fabricated aluminum and alumina combined through its active participation in the aspects of the industry including technology mining refining smelting fabricating and recycling. The Company has investments and operating activities in Australia Brazil China Guinea Iceland Russia and Saudi Arabia among others. It produces three dimensional (3D-printed) titanium specialty metals and plastic parts for aerospace medical and energy applications.

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