Alcoa Co. (NYSE:AA) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its stake in Alcoa Co. (NYSE:AA) by 3.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,469 shares of the industrial products company’s stock after purchasing an additional 339 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Alcoa were worth $365,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of AA. Nordea Investment Management AB grew its stake in shares of Alcoa by 2.3% in the fourth quarter. Nordea Investment Management AB now owns 253,673 shares of the industrial products company’s stock valued at $9,662,000 after buying an additional 5,773 shares in the last quarter. Everence Capital Management Inc. purchased a new position in Alcoa during the 4th quarter valued at about $322,000. GAMMA Investing LLC grew its position in Alcoa by 399.0% in the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 1,157 shares in the last quarter. Confluence Investment Management LLC grew its position in Alcoa by 7.2% in the 4th quarter. Confluence Investment Management LLC now owns 13,999 shares of the industrial products company’s stock valued at $529,000 after acquiring an additional 936 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in Alcoa by 41.6% during the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after purchasing an additional 92,201 shares during the period.

Analysts Set New Price Targets

AA has been the subject of several recent research reports. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. BMO Capital Markets lifted 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, UBS Group upped their price target on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $46.55.

Alcoa Stock Up 2.0 %

Shares of NYSE AA opened at $38.96 on Friday. Alcoa Co. has a 1 year low of $24.86 and a 1 year high of $47.77. The company has a market capitalization of $10.07 billion, a price-to-earnings ratio of -22.14, a price-to-earnings-growth ratio of 0.16 and a beta of 2.47. 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 business has a 50-day moving average of $40.94 and a two-hundred day moving average of $37.78.

Alcoa (NYSE:AA) last announced its quarterly 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. 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 during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the company posted ($1.14) earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Alcoa Co. will post 0.93 earnings per share for the current fiscal year.

Insider Transactions at Alcoa

In other Alcoa 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 transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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.