Regal Partners Ltd Purchases 350,237 Shares of Alcoa Co. (NYSE:AA)

Regal Partners Ltd boosted its position in Alcoa Co. (NYSE:AA) by 5,745.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 356,333 shares of the industrial products company’s stock after buying an additional 350,237 shares during the period. Alcoa comprises about 1.2% of Regal Partners Ltd’s portfolio, making the stock its 21st biggest holding. Regal Partners Ltd’s holdings in Alcoa were worth $13,747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in shares of Alcoa by 15.1% during the 2nd 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 in the last quarter. Blue Trust Inc. raised its holdings in shares of Alcoa by 12.0% during the 3rd quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock worth $128,000 after buying an additional 344 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Alcoa by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after buying an additional 368 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in shares of Alcoa by 15.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company’s stock worth $133,000 after buying an additional 459 shares in the last quarter. Finally, Eads & Heald Wealth Management raised its holdings in shares of Alcoa by 6.6% during the 3rd quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company’s stock worth $324,000 after buying an additional 517 shares in the last quarter.

Insider Activity at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Alcoa Trading Down 0.9 %

NYSE AA opened at $40.59 on Thursday. The business’s 50-day moving average price is $38.42 and its two-hundred day moving average price is $37.54. Alcoa Co. has a 12 month low of $23.80 and a 12 month high of $46.55. The firm has a market capitalization of $10.49 billion, a PE ratio of -23.06, a price-to-earnings-growth ratio of 0.78 and a beta of 2.42. 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 released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the company posted ($1.14) EPS. The business’s revenue was up 11.6% on a year-over-year basis. On average, analysts expect that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. Alcoa’s payout ratio is -22.73%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Morgan Stanley upped their target price on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. UBS Group upped their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. upped their target price on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.