Swiss National Bank Boosts Stock Position in Alcoa Co. (NYSE:AA)

Swiss National Bank raised its holdings in Alcoa Co. (NYSE:AA) by 30.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 460,913 shares of the industrial products company’s stock after purchasing an additional 107,719 shares during the period. Swiss National Bank’s holdings in Alcoa were worth $17,782,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Newbridge Financial Services Group Inc. acquired a new stake in Alcoa in the second quarter valued at $27,000. UMB Bank n.a. increased its position in shares of Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new position in Alcoa in the second quarter worth about $102,000.

Insider Activity at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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 directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. 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. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their target price on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets raised their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Alcoa Price Performance

Shares of NYSE:AA opened at $46.51 on Friday. The firm’s 50 day moving average is $40.21 and its two-hundred day moving average is $37.88. The firm has a market capitalization of $12.02 billion, a P/E ratio of -26.42, a PEG ratio of 0.87 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 52 week low of $23.80 and a 52 week high of $46.60.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS 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 last year, the firm earned ($1.14) EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. Analysts anticipate that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s 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.