Daiwa Securities Group Inc. Has $1.39 Million Stock Position in Alcoa Co. (NYSE:AA)

Daiwa Securities Group Inc. increased its position in shares of Alcoa Co. (NYSE:AA) by 71.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,900 shares of the industrial products company’s stock after acquiring an additional 15,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Alcoa were worth $1,385,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in Alcoa by 518.6% in the first quarter. Tidal Investments LLC now owns 51,311 shares of the industrial products company’s stock valued at $1,734,000 after buying an additional 43,016 shares during the period. Comerica Bank lifted its stake in shares of Alcoa by 74.4% in the 1st quarter. Comerica Bank now owns 134,705 shares of the industrial products company’s stock valued at $4,552,000 after purchasing an additional 57,484 shares during the period. Cetera Advisors LLC boosted its position in shares of Alcoa by 24.0% in the 1st quarter. Cetera Advisors LLC now owns 10,831 shares of the industrial products company’s stock worth $366,000 after purchasing an additional 2,096 shares during the last quarter. Confluence Investment Management LLC grew its stake in shares of Alcoa by 9.9% during the second quarter. Confluence Investment Management LLC now owns 11,428 shares of the industrial products company’s stock worth $455,000 after purchasing an additional 1,027 shares during the period. Finally, Douglas Lane & Associates LLC increased its holdings in Alcoa by 3.2% in the second quarter. Douglas Lane & Associates LLC now owns 1,394,738 shares of the industrial products company’s stock valued at $55,483,000 after purchasing an additional 43,018 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Up 1.2 %

AA stock opened at $46.45 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The stock has a market capitalization of $12.00 billion, a P/E ratio of -26.38, a P/E/G ratio of 0.92 and a beta of 2.42. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77. The business has a 50-day moving average of $41.44 and a 200-day moving average of $38.20.

Alcoa (NYSE:AA) last released 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. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the firm posted ($1.14) EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts anticipate that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is currently -22.73%.

Analyst Ratings Changes

AA has been the topic of a number of recent analyst reports. Bank of America raised their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a report on Thursday. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Finally, BMO Capital Markets raised their price objective on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $45.25.

Insider Buying and Selling at Alcoa

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

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.