Alcoa Co. (NYSE:AA) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Alcoa Co. (NYSE:AA) by 3.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,469 shares of the industrial products company’s stock after buying an additional 339 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Alcoa were worth $365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AA. Retirement Systems of Alabama increased its holdings in shares of Alcoa by 41.6% during the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock valued at $12,107,000 after purchasing an additional 92,201 shares in the last quarter. ING Groep NV purchased a new position in Alcoa in the third quarter valued at $10,201,000. Douglas Lane & Associates LLC increased its holdings in Alcoa by 2.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after buying an additional 27,217 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Alcoa by 6.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock worth $24,233,000 after acquiring an additional 36,869 shares during the period. Finally, Aigen Investment Management LP boosted its stake in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock worth $1,422,000 after acquiring an additional 15,546 shares in the last quarter.

Wall Street Analysts Forecast Growth

AA has been the subject of several recent analyst reports. UBS Group lifted their price target on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Wednesday, October 23rd. BMO Capital Markets increased their target price on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price target on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.55.

Insiders Place Their Bets

In other news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction that occurred 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Alcoa Stock Up 2.0 %

AA stock opened at $38.96 on Friday. The company has a market cap of $10.07 billion, a price-to-earnings ratio of -22.14, a PEG ratio of 0.16 and a beta of 2.47. The firm has a 50-day moving average of $40.94 and a two-hundred day moving average of $37.78. Alcoa Co. has a 12 month low of $24.86 and a 12 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.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted ($1.14) earnings per share. As a group, analysts forecast that Alcoa Co. will post 0.93 earnings per share for the current fiscal year.

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.