Confluence Investment Management LLC Has $529,000 Position in Alcoa Co. (NYSE:AA)

Confluence Investment Management LLC grew its position in Alcoa Co. (NYSE:AA) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,999 shares of the industrial products company’s stock after purchasing an additional 936 shares during the quarter. Confluence Investment Management LLC’s holdings in Alcoa were worth $529,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AA. Mountaineer Partners Management LLC boosted its stake in Alcoa by 4,023.0% during the 3rd quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock valued at $416,505,000 after purchasing an additional 10,534,036 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of Alcoa in the second quarter valued at approximately $93,061,000. State Street Corp grew its stake in shares of Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock worth $368,965,000 after acquiring an additional 1,805,915 shares during the last quarter. Paloma Partners Management Co increased its position in Alcoa by 11,317.8% during the third quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock worth $55,084,000 after acquiring an additional 1,415,294 shares during the period. Finally, Marshall Wace LLP raised its stake in Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock valued at $56,599,000 after purchasing an additional 1,259,430 shares during the last quarter. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 transaction of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This represents 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 this link. 1.08% of the stock is currently owned by corporate insiders.

Alcoa Trading Up 0.6 %

Shares of Alcoa stock opened at $37.99 on Friday. The stock has a market capitalization of $9.81 billion, a P/E ratio of -21.59, a price-to-earnings-growth ratio of 0.79 and a beta of 2.44. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The company has a 50-day simple moving average of $41.86 and a 200 day simple moving average of $37.96.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. Alcoa’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.14) earnings per share. Research analysts expect that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Tuesday, October 29th. Alcoa’s payout ratio is presently -22.73%.

Analyst Ratings Changes

Several research firms have recently issued reports on AA. BMO Capital Markets boosted their price objective on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, October 23rd. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Bank of America lifted their price target on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a research note on Thursday, November 28th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.73.

Alcoa 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.