Algert Global LLC Increases Stock Position in Alcoa Co. (NYSE:AA)

Algert Global LLC raised its position in Alcoa Co. (NYSE:AA) by 101.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 246,098 shares of the industrial products company’s stock after buying an additional 123,867 shares during the period. Algert Global LLC owned about 0.10% of Alcoa worth $9,494,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AA. ANTIPODES PARTNERS Ltd acquired a new position in shares of Alcoa during the second quarter valued at approximately $93,061,000. L1 Capital Pty Ltd purchased a new stake in shares of Alcoa during the first quarter worth approximately $72,658,000. Marshall Wace LLP raised its stake 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 purchasing an additional 1,259,430 shares during the last quarter. Global Alpha Capital Management Ltd. purchased a new position in Alcoa in the 3rd quarter valued at $36,165,000. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 467,986 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $41.00 to $50.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. BMO Capital Markets increased their price target on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Alcoa Stock Down 2.2 %

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

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the firm posted ($1.14) earnings per share. Alcoa’s revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts expect that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. Alcoa’s payout ratio is currently -22.73%.

Alcoa 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.