Quantbot Technologies LP Increases Stock Holdings in Alcoa Co. (NYSE:AA)

Quantbot Technologies LP lifted its stake in shares of Alcoa Co. (NYSE:AA) by 78.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 233,192 shares of the industrial products company’s stock after acquiring an additional 102,692 shares during the quarter. Quantbot Technologies LP’s holdings in Alcoa were worth $8,997,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Newbridge Financial Services Group Inc. acquired a new position in Alcoa during the second quarter worth approximately $27,000. UMB Bank n.a. increased its holdings in shares of Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 631 shares during the period. Toronto Dominion Bank raised its position in Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after buying an additional 309 shares during the period. Finally, William B. Walkup & Associates Inc. purchased a new position in Alcoa in the 2nd quarter valued at $102,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

Insider Buying and Selling

In other 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 completion of the sale, the executive vice president now owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AA. JPMorgan Chase & Co. raised their target price on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Wednesday, September 4th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and a consensus price target of $44.75.

Alcoa Trading Up 3.9 %

Shares of Alcoa stock opened at $47.24 on Tuesday. The firm has a market cap of $12.20 billion, a PE ratio of -26.84, a P/E/G ratio of 0.87 and a beta of 2.42. The business’s fifty day moving average is $40.73 and its two-hundred day moving average is $38.02. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.44. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating 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 return on equity of 1.45% and a negative net margin of 2.65%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.14) EPS. Analysts anticipate that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.85%. Alcoa’s payout ratio is -22.73%.

About Alcoa

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.