6,193 Shares in Alcoa Co. (NYSE:AA) Acquired by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new position in shares of Alcoa Co. (NYSE:AA) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,193 shares of the industrial products company’s stock, valued at approximately $239,000.

A number of other hedge funds have also recently made changes to their positions in AA. Newbridge Financial Services Group Inc. purchased a new position in shares of Alcoa during the 2nd quarter worth approximately $27,000. UMB Bank n.a. boosted its position in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares during the period. Quarry LP purchased a new position in shares of Alcoa during the 3rd quarter worth approximately $43,000. Continuum Advisory LLC boosted its position in shares of Alcoa by 1,945.5% during the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company’s stock worth $46,000 after purchasing an additional 1,070 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in shares of Alcoa during the 3rd quarter worth approximately $89,000. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Alcoa Price Performance

Shares of AA opened at $38.44 on Wednesday. The firm’s fifty day simple moving average is $42.64 and its 200-day simple moving average is $38.18. Alcoa Co. has a twelve month low of $24.86 and a twelve month high of $47.77. 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 capitalization of $9.93 billion, a price-to-earnings ratio of -21.84, a PEG ratio of 0.79 and a beta of 2.44.

Alcoa (NYSE:AA) last announced 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. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the business earned ($1.14) EPS. Alcoa’s revenue for the quarter was up 11.6% compared to the same quarter last year. Equities analysts forecast that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared 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. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 1.04%. Alcoa’s dividend payout ratio is currently -22.73%.

Analyst Upgrades and Downgrades

AA has been the subject of several recent research reports. Bank of America raised 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. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. B. Riley Financial reissued a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. UBS Group raised their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.73.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa 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 in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.08% of the stock is owned by company insiders.

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.