Alcoa Co. (NYSE:AA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in Alcoa Co. (NYSE:AA) by 73.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,372 shares of the industrial products company’s stock after selling 23,257 shares during the period. Los Angeles Capital Management LLC’s holdings in Alcoa were worth $323,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State of New Jersey Common Pension Fund D lifted its stake in Alcoa by 27.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 84,459 shares of the industrial products company’s stock worth $3,258,000 after purchasing an additional 17,974 shares in the last quarter. River Global Investors LLP lifted its stake in Alcoa by 4.0% in the 3rd quarter. River Global Investors LLP now owns 43,532 shares of the industrial products company’s stock worth $1,680,000 after purchasing an additional 1,655 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Alcoa by 28.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 13,164 shares of the industrial products company’s stock worth $508,000 after purchasing an additional 2,912 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Alcoa by 180.2% in the 3rd quarter. Lindbrook Capital LLC now owns 7,660 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 4,926 shares in the last quarter. Finally, Confluence Investment Management LLC lifted its stake in Alcoa by 14.3% in the 3rd quarter. Confluence Investment Management LLC now owns 13,063 shares of the industrial products company’s stock worth $504,000 after purchasing an additional 1,635 shares in the last quarter.

Alcoa Stock Up 6.8 %

Alcoa stock opened at $44.02 on Monday. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The firm has a 50 day moving average price of $38.94 and a 200 day moving average price of $37.65. The company has a market capitalization of $11.37 billion, a PE ratio of -25.01, a price-to-earnings-growth ratio of 0.84 and a beta of 2.42.

Alcoa (NYSE:AA) last posted 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. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.14) earnings per share. Research analysts expect that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Dividend Announcement

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 was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. Alcoa’s dividend payout ratio (DPR) is -22.73%.

Analyst Ratings Changes

Several analysts have recently commented on AA shares. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. BMO Capital Markets lifted their price target on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating 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 price target on the stock in a research report on Wednesday, September 4th. Morgan Stanley lifted their price target on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Finally, B. Riley raised shares of 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $44.75.

Insiders Place Their Bets

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the business’s 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 transaction, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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.