National Bank of Canada FI Sells 43,478 Shares of Alcoa Co. (NYSE:AA)

National Bank of Canada FI reduced its holdings in Alcoa Co. (NYSE:AA) by 50.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 42,969 shares of the industrial products company’s stock after selling 43,478 shares during the quarter. National Bank of Canada FI’s holdings in Alcoa were worth $1,658,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Mountaineer Partners Management LLC lifted its stake in Alcoa by 4,023.0% in the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after acquiring an additional 10,534,036 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Alcoa in the second quarter worth about $93,061,000. State Street Corp lifted its holdings in 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 buying an additional 1,805,915 shares during the period. Paloma Partners Management Co grew its holdings in shares of Alcoa by 11,317.8% during the 3rd 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 position in shares of Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after acquiring an additional 1,259,430 shares in the last quarter.

Insiders Place Their Bets

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 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 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 is accessible through this hyperlink.

Alcoa Stock Down 1.3 %

Alcoa stock opened at $39.11 on Friday. Alcoa Co. has a 12 month low of $24.86 and a 12 month high of $47.77. The stock has a fifty day simple moving average of $42.65 and a two-hundred day simple moving average of $38.33. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The firm has a market cap of $10.10 billion, a price-to-earnings ratio of -22.22, a PEG ratio of 0.79 and a beta of 2.44.

Alcoa (NYSE:AA) last released its quarterly earnings data 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 the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. Alcoa’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned ($1.14) EPS. Equities analysts predict that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio is currently -22.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AA shares. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Wednesday, September 4th. B. Riley Financial reissued a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Morgan Stanley upped their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.73.

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.