Impala Asset Management LLC Acquires Shares of 165,000 Alcoa Co. (NYSE:AA)

Impala Asset Management LLC acquired a new stake in Alcoa Co. (NYSE:AA) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 165,000 shares of the industrial products company’s stock, valued at approximately $6,366,000. Alcoa comprises about 4.4% of Impala Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Impala Asset Management LLC owned 0.06% of Alcoa as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of AA. Mountaineer Partners Management LLC boosted its holdings in shares of Alcoa by 4,023.0% in the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after buying an additional 10,534,036 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Alcoa in the 2nd quarter valued at $93,061,000. State Street Corp boosted its holdings in shares of Alcoa by 23.3% in the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after buying an additional 1,805,915 shares in the last quarter. Paloma Partners Management Co boosted its holdings in shares of Alcoa by 11,317.8% in the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock valued at $55,084,000 after buying an additional 1,415,294 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after buying an additional 1,259,430 shares in the last quarter.

Alcoa Stock Down 1.2 %

Shares of NYSE:AA opened at $41.98 on Tuesday. The company has a market cap of $10.85 billion, a price-to-earnings ratio of -23.85, a PEG ratio of 0.85 and a beta of 2.44. The firm’s 50-day simple moving average is $42.58 and its 200-day simple moving average is $38.34. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77.

Alcoa (NYSE:AA) last issued its earnings results 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. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.14) earnings per share. As a group, equities research analysts predict that Alcoa Co. will post 0.9 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Tuesday, October 29th. Alcoa’s payout ratio is -22.73%.

Insider Activity

In related news, EVP Renato Bacchi sold 23,867 shares of the firm’s 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 $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, October 23rd. B. Riley Financial restated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley raised their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, UBS Group raised their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.73.

Alcoa Company Profile

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.