17,207 Shares in Alcoa Co. (NYSE:AA) Acquired by Impax Asset Management Group plc

Impax Asset Management Group plc acquired a new position in Alcoa Co. (NYSE:AA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,207 shares of the industrial products company’s stock, valued at approximately $664,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its holdings in Alcoa by 21.5% in the 3rd quarter. QRG Capital Management Inc. now owns 7,781 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 1,378 shares during the last quarter. Van ECK Associates Corp raised its holdings in Alcoa by 43.4% in 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 last quarter. Eads & Heald Wealth Management raised its holdings in Alcoa by 6.6% in the 3rd quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company’s stock worth $324,000 after acquiring an additional 517 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Alcoa by 3.4% in the 3rd quarter. New York State Common Retirement Fund now owns 439,333 shares of the industrial products company’s stock worth $16,949,000 after acquiring an additional 14,400 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in Alcoa by 15.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company’s stock worth $133,000 after acquiring an additional 459 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AA. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, October 23rd. BMO Capital Markets increased their price target on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the company from $41.00 to $50.00 in a report on Thursday, October 17th. UBS Group increased their price target on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley increased their price target on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.75.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Alcoa Trading Up 6.0 %

Shares of AA stock opened at $45.35 on Thursday. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $46.03. 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 firm has a market capitalization of $11.72 billion, a PE ratio of -24.31, a PEG ratio of 0.77 and a beta of 2.42. The stock has a fifty day simple moving average of $36.99 and a two-hundred day simple moving average of $37.24.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion during 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%. Alcoa’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.14) EPS. On average, analysts predict that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. Alcoa’s payout ratio is -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.