Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Alcoa Co. (NYSE:AA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Alcoa Co. (NYSE:AA) by 37.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,970 shares of the industrial products company’s stock after purchasing an additional 19,231 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Alcoa were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. ING Groep NV purchased a new position in Alcoa in the 3rd quarter worth about $10,201,000. Douglas Lane & Associates LLC raised its position in Alcoa by 2.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after buying an additional 27,217 shares during the last quarter. Aigen Investment Management LP raised its position in Alcoa by 73.0% in the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock worth $1,422,000 after buying an additional 15,546 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in Alcoa in the 2nd quarter worth about $706,000. Finally, Van ECK Associates Corp raised its position in Alcoa by 43.4% in the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock worth $11,361,000 after buying an additional 82,073 shares during the last quarter.

Analyst Ratings Changes

AA has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Bank of America upped their price target on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research report on Thursday, November 28th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. 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 report on Wednesday, September 4th. Finally, Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, October 23rd. 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, the company has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Insiders Place Their Bets

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 stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Alcoa Trading Up 0.4 %

AA stock opened at $45.90 on Wednesday. Alcoa Co. has a 1-year low of $23.80 and a 1-year high of $47.77. 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 company has a market capitalization of $11.86 billion, a price-to-earnings ratio of -26.08, a PEG ratio of 0.92 and a beta of 2.44. The business has a 50 day simple moving average of $41.93 and a two-hundred day simple moving average of $38.26.

Alcoa (NYSE:AA) last posted its quarterly 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 business 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) EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts anticipate that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

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

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.