Victory Capital Management Inc. Has $20.95 Million Position in Alcoa Co. (NYSE:AA)

Victory Capital Management Inc. grew its stake in Alcoa Co. (NYSE:AA) by 32.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 543,086 shares of the industrial products company’s stock after purchasing an additional 133,345 shares during the period. Victory Capital Management Inc.’s holdings in Alcoa were worth $20,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AA. State Board of Administration of Florida Retirement System boosted its stake in shares of Alcoa by 8.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 185,411 shares of the industrial products company’s stock valued at $6,265,000 after purchasing an additional 13,721 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Alcoa by 0.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 105,839 shares of the industrial products company’s stock valued at $3,571,000 after purchasing an additional 737 shares in the last quarter. Natixis boosted its stake in shares of Alcoa by 55.9% in the 1st quarter. Natixis now owns 12,852 shares of the industrial products company’s stock valued at $434,000 after purchasing an additional 4,610 shares in the last quarter. Beaconlight Capital LLC acquired a new stake in shares of Alcoa in the 1st quarter valued at approximately $2,083,000. Finally, Toronto Dominion Bank boosted its position in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,592 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently commented on AA. UBS Group lifted their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. 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 research report on Thursday, October 17th. B. Riley upgraded 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 research report on Thursday, October 17th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.75.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alcoa Stock Performance

NYSE AA opened at $43.98 on Tuesday. Alcoa Co. has a 1 year low of $23.80 and a 1 year high of $46.55. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of -24.99, a PEG ratio of 0.84 and a beta of 2.42. The company has a fifty day moving average price of $39.24 and a 200-day moving average price of $37.70.

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 analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.14) EPS. As a group, equities research analysts predict that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) 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.