Nwam LLC Makes New $291,000 Investment in Alcoa Co. (NYSE:AA)

Nwam LLC purchased a new stake in shares of Alcoa Co. (NYSE:AA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,539 shares of the industrial products company’s stock, valued at approximately $291,000.

Several other hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in Alcoa during the 1st quarter valued at about $593,000. ING Groep NV purchased a new position in Alcoa during the third quarter valued at approximately $10,201,000. Douglas Lane & Associates LLC increased its stake 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 valued at $54,859,000 after buying an additional 27,217 shares during the period. Aigen Investment Management LP lifted 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 in the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Alcoa during the 2nd quarter valued at $706,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Insider Buying and Selling at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of 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 SEC, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AA shares. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Morgan Stanley boosted their price target on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their price objective for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. Finally, UBS Group boosted their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Alcoa has an average rating of “Moderate Buy” and an average target price of $44.75.

Alcoa Stock Up 3.9 %

AA stock opened at $47.24 on Tuesday. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of -26.84, a price-to-earnings-growth ratio of 0.87 and a beta of 2.42. The company has a 50-day moving average of $40.73 and a two-hundred day moving average of $38.02. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $47.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the company earned ($1.14) EPS. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.85%. The ex-dividend date was Tuesday, October 29th. Alcoa’s payout ratio is currently -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.