MetLife Investment Management LLC Raises Position in Alcoa Co. (NYSE:AA)

MetLife Investment Management LLC increased its holdings in shares of Alcoa Co. (NYSE:AA) by 41.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,386 shares of the industrial products company’s stock after buying an additional 38,853 shares during the quarter. MetLife Investment Management LLC’s holdings in Alcoa were worth $5,146,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ING Groep NV purchased a new stake in Alcoa during the 3rd quarter worth approximately $10,201,000. Douglas Lane & Associates LLC grew its holdings in shares of Alcoa by 2.0% during the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after buying an additional 27,217 shares during the last quarter. Aigen Investment Management LP increased its position in shares of Alcoa by 73.0% in the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after acquiring an additional 15,546 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new position in Alcoa in the 2nd quarter worth $706,000. Finally, Van ECK Associates Corp lifted 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 acquiring an additional 82,073 shares during the period. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Alcoa Trading Up 1.2 %

Shares of Alcoa stock opened at $46.43 on Friday. Alcoa Co. has a twelve month low of $23.80 and a twelve month high of $47.77. The firm’s 50-day moving average price is $41.70 and its 200 day moving average price is $38.24. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $12.00 billion, a PE ratio of -26.38, a P/E/G ratio of 0.92 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the company posted ($1.14) earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts predict that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Wall Street Analyst Weigh In

AA has been the topic of a number of research reports. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. B. Riley Financial restated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Morgan Stanley increased their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets boosted their target price on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Insider Transactions at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the sale, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.08% of the company’s stock.

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.