Mutual of America Capital Management LLC Grows Stock Position in Alcoa Co. (NYSE:AA)

Mutual of America Capital Management LLC boosted its position in shares of Alcoa Co. (NYSE:AA) by 35.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,619 shares of the industrial products company’s stock after buying an additional 36,812 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Alcoa worth $5,387,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. ANTIPODES PARTNERS Ltd purchased a new position in Alcoa during the 2nd quarter valued at $93,061,000. L1 Capital Pty Ltd bought a new position in shares of Alcoa in the first quarter worth about $72,658,000. Marshall Wace LLP increased its stake in 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 buying an additional 1,259,430 shares during the period. Capital Research Global Investors lifted its holdings in Alcoa by 29.8% during the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after buying an additional 475,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Alcoa by 43.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock valued at $49,958,000 after buying an additional 444,393 shares during the period. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Shares of AA opened at $45.74 on Thursday. 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 $11.82 billion, a PE ratio of -25.99, a P/E/G ratio of 0.84 and a beta of 2.42. Alcoa Co. has a 12 month low of $23.80 and a 12 month high of $46.55. The stock has a fifty day moving average price of $39.91 and a 200-day moving average price of $37.82.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.14) earnings per share. Equities research analysts predict that Alcoa Co. will post 0.89 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business 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. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Insider Activity at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.08% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Wednesday, October 23rd. Finally, BMO Capital Markets raised their target price 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. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Alcoa presently has a consensus rating of “Moderate Buy” and an average price target of $44.75.

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.