Eads & Heald Wealth Management Has $324,000 Position in Alcoa Co. (NYSE:AA)

Eads & Heald Wealth Management boosted its holdings in Alcoa Co. (NYSE:AA) by 6.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,403 shares of the industrial products company’s stock after acquiring an additional 517 shares during the quarter. Eads & Heald Wealth Management’s holdings in Alcoa were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of AA. Diversified Trust Co boosted its holdings in Alcoa by 5.7% during the 1st quarter. Diversified Trust Co now owns 7,750 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 416 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Alcoa by 15.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 14,344 shares of the industrial products company’s stock worth $485,000 after acquiring an additional 1,867 shares during the last quarter. State of Michigan Retirement System boosted its holdings in Alcoa by 2.6% during the 1st quarter. State of Michigan Retirement System now owns 43,875 shares of the industrial products company’s stock worth $1,483,000 after acquiring an additional 1,100 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Alcoa during the 1st quarter worth $422,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Alcoa by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 60,882 shares of the industrial products company’s stock worth $2,057,000 after buying an additional 1,422 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on AA. UBS Group boosted their price target on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted 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. BMO Capital Markets boosted their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Finally, B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Alcoa currently has an average rating of “Moderate Buy” and an average target price of $44.75.

Alcoa Trading Up 1.2 %

Shares of Alcoa stock opened at $40.59 on Friday. The stock’s 50-day simple moving average is $36.69 and its 200 day simple moving average is $37.13. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $45.48. The stock has a market capitalization of $10.48 billion, a P/E ratio of -23.06, a P/E/G ratio of 0.93 and a beta of 2.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

Alcoa (NYSE:AA) last announced its quarterly 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. 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 analysts’ expectations of $2.97 billion. During the same period in the prior year, the business posted ($1.14) earnings per share. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Alcoa Co. will post 0.74 EPS for the current year.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the company’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 value of $1,009,335.43. Following the completion of the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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.