Erste Asset Management GmbH Invests $2.36 Million in Alcoa Co. (NYSE:AA)

Erste Asset Management GmbH purchased a new position in Alcoa Co. (NYSE:AA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,000 shares of the industrial products company’s stock, valued at approximately $2,356,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. ING Groep NV acquired a new position in Alcoa during the third quarter worth $10,201,000. Douglas Lane & Associates LLC boosted its position in shares of Alcoa by 2.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after acquiring an additional 27,217 shares during the last quarter. Aigen Investment Management LP grew its holdings in shares of Alcoa by 73.0% in the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after purchasing an additional 15,546 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new stake in Alcoa during the second quarter worth about $706,000. Finally, Van ECK Associates Corp raised its stake in Alcoa by 43.4% during the third quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock worth $11,361,000 after purchasing an additional 82,073 shares during the period. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research note on Wednesday, September 4th. Morgan Stanley raised their target price on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Bank of America upped their price target on Alcoa to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 28th. B. Riley Financial reissued a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Insider Transactions at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction on 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 $2,423,935.93. This trade represents a 29.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Alcoa Trading Down 1.6 %

Shares of AA stock opened at $45.71 on Tuesday. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77. The company has a 50 day moving average price of $41.70 and a 200 day moving average price of $38.22. The stock has a market capitalization of $11.81 billion, a P/E ratio of -25.97, a price-to-earnings-growth ratio of 0.93 and a beta of 2.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping the consensus estimate 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%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.14) EPS. Equities research analysts predict that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was 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 currently -22.73%.

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.