Alcoa Co. (NYSE:AA) Shares Bought by Quest Partners LLC

Quest Partners LLC boosted its position in shares of Alcoa Co. (NYSE:AA) by 2,530,300.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,304 shares of the industrial products company’s stock after buying an additional 25,303 shares during the period. Quest Partners LLC’s holdings in Alcoa were worth $976,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AA. CANADA LIFE ASSURANCE Co increased its position in Alcoa by 0.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 105,839 shares of the industrial products company’s stock worth $3,571,000 after buying an additional 737 shares during the period. Natixis increased its position in Alcoa by 55.9% during the first quarter. Natixis now owns 12,852 shares of the industrial products company’s stock worth $434,000 after buying an additional 4,610 shares during the period. Toronto Dominion Bank increased its holdings in shares of Alcoa by 1,501.9% in the first 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 during the period. Capital Research Global Investors increased its holdings in shares of Alcoa by 29.8% in the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after purchasing an additional 475,000 shares during the period. Finally, Cloverfields Capital Group LP increased its holdings in shares of Alcoa by 27.6% in the first quarter. Cloverfields Capital Group LP now owns 32,449 shares of the industrial products company’s stock valued at $1,096,000 after purchasing an additional 7,017 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Analyst Ratings Changes

AA has been the topic of a number of recent research reports. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. B. Riley Financial reissued a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. Morgan Stanley boosted their target price on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets boosted their target price on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a report on Thursday, October 17th. Finally, Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.75.

Alcoa Stock Up 0.3 %

Shares of NYSE:AA opened at $45.74 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.41 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 $46.55. The stock’s fifty day simple moving average is $39.91 and its 200-day simple moving average is $37.82. The company has a market capitalization of $11.82 billion, a P/E ratio of -25.99, a P/E/G ratio of 0.84 and a beta of 2.42.

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 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 firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts forecast that Alcoa Co. will post 0.89 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.87%. Alcoa’s dividend payout ratio is presently -22.73%.

Insiders Place Their Bets

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the company’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 sale, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.08% of the stock is currently owned by insiders.

Alcoa Company 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.