Alcoa Co. (NYSE:AA) Shares Acquired by Rosenberg Matthew Hamilton

Rosenberg Matthew Hamilton lifted its position in Alcoa Co. (NYSE:AA) by 15.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,452 shares of the industrial products company’s stock after acquiring an additional 459 shares during the quarter. Rosenberg Matthew Hamilton’s holdings in Alcoa were worth $133,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in Alcoa during the first quarter valued at approximately $593,000. Douglas Lane & Associates LLC increased its stake in shares of Alcoa by 2.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after acquiring an additional 27,217 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Alcoa during the second quarter valued at $706,000. Blue Trust Inc. boosted its position in Alcoa by 536.7% during the second quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 2,426 shares during the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Alcoa in the first quarter valued at about $3,064,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on AA shares. UBS Group boosted their price target on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Wednesday, October 23rd. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and raised their price target for the company from $41.00 to $50.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, BMO Capital Markets raised their target price on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $44.75.

Alcoa Stock Down 1.2 %

AA opened at $40.08 on Friday. The business has a 50 day moving average of $36.41 and a 200-day moving average of $37.08. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of -22.78 and a beta of 2.42. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa Co. has a 1-year low of $23.80 and a 1-year high of $45.48.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the firm earned ($1.14) EPS. The business’s revenue was up 11.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Alcoa Co. will post 0.29 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 1.00%. Alcoa’s dividend payout ratio is -22.73%.

Insider Buying and Selling at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.08% of the company’s stock.

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.