Alcoa Co. (NYSE:AA) Shares Acquired by Algert Global LLC

Algert Global LLC boosted its stake in Alcoa Co. (NYSE:AA) by 101.3% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 246,098 shares of the industrial products company’s stock after purchasing an additional 123,867 shares during the period. Algert Global LLC’s holdings in Alcoa were worth $9,494,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AA. ANTIPODES PARTNERS Ltd purchased a new position in shares of Alcoa in the 2nd quarter valued at approximately $93,061,000. L1 Capital Pty Ltd acquired a new stake in shares of Alcoa during the first quarter worth $72,658,000. Marshall Wace LLP grew its position in 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 during the last quarter. Global Alpha Capital Management Ltd. acquired a new position in Alcoa in the 3rd quarter valued at $36,165,000. Finally, Charles Schwab Investment Management Inc. raised its position in Alcoa by 32.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company’s stock worth $72,862,000 after buying an additional 467,986 shares during the last quarter.

Alcoa Stock Performance

Shares of AA stock opened at $45.44 on Friday. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The business has a fifty day simple moving average of $40.47 and a 200-day simple moving average of $37.94.

Alcoa (NYSE:AA) last posted 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 firm had revenue of $2.90 billion during 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted ($1.14) EPS. On average, analysts predict that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AA. B. Riley Financial reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. BMO Capital Markets lifted their price objective on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Insiders Place Their Bets

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the company’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 transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link.

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.