Atom Investors LP Acquires Shares of 89,370 Alcoa Co. (NYSE:AA)

Atom Investors LP bought a new stake in Alcoa Co. (NYSE:AA) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 89,370 shares of the industrial products company’s stock, valued at approximately $3,448,000.

A number of other institutional investors and hedge funds also recently modified their holdings of AA. ING Groep NV bought a new position in Alcoa in the 3rd quarter worth about $10,201,000. Douglas Lane & Associates LLC increased its holdings in Alcoa by 2.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after purchasing an additional 27,217 shares during the period. Aigen Investment Management LP raised its holdings in shares of Alcoa by 73.0% during the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after acquiring an additional 15,546 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in shares of Alcoa during the second quarter valued at about $706,000. Finally, Van ECK Associates Corp grew its holdings in shares of Alcoa by 43.4% during the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock worth $11,361,000 after acquiring an additional 82,073 shares during the period.

Insider Transactions at Alcoa

In related 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 value of $1,009,335.43. Following the completion of the sale, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analysts Set New Price Targets

Several research firms recently commented on AA. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets boosted their target price on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research 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 on the stock in a report on Wednesday, September 4th. UBS Group lifted their price target on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and lifted their target price for the company from $41.00 to $50.00 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Alcoa Trading Up 1.2 %

Shares of AA opened at $46.43 on Monday. The company’s fifty day simple moving average is $41.70 and its 200-day simple moving average is $38.23. The company has a market cap of $12.00 billion, a P/E ratio of -26.38, a P/E/G ratio of 0.93 and a beta of 2.42. 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 $47.77.

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, topping 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 the consensus estimate of $2.97 billion. During the same period in the prior year, the business posted ($1.14) earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio is currently -22.73%.

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.