Alcoa Co. (NYSE:AA) Stock Holdings Lifted by Mountaineer Partners Management LLC

Mountaineer Partners Management LLC raised its holdings in shares of Alcoa Co. (NYSE:AA) by 4,023.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,795,880 shares of the industrial products company’s stock after purchasing an additional 10,534,036 shares during the period. Alcoa accounts for about 3.5% of Mountaineer Partners Management LLC’s holdings, making the stock its 9th largest holding. Mountaineer Partners Management LLC owned about 4.18% of Alcoa worth $416,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after purchasing an additional 390,930 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in shares of Alcoa during the 2nd quarter valued at $93,061,000. ARGA Investment Management LP boosted its position in Alcoa by 1.5% in the third quarter. ARGA Investment Management LP now owns 2,313,806 shares of the industrial products company’s stock worth $89,267,000 after purchasing an additional 34,878 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alcoa by 32.9% in the third 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. Finally, Paloma Partners Management Co boosted its stake in shares of Alcoa by 11,317.8% during the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock worth $55,084,000 after acquiring an additional 1,415,294 shares during the last quarter.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, 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 filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Morgan Stanley raised their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Wednesday, September 4th. Finally, BMO Capital Markets upped their target price on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Alcoa Trading Up 0.4 %

AA opened at $45.90 on Wednesday. Alcoa Co. has a one year low of $23.80 and a one year high of $47.77. 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 stock has a market cap of $11.86 billion, a price-to-earnings ratio of -26.08, a P/E/G ratio of 0.92 and a beta of 2.44. The stock’s 50 day moving average price is $41.93 and its 200-day moving average price is $38.26.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.14) earnings per share. On average, equities analysts forecast that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. Alcoa’s dividend 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.