937,410 Shares in Alcoa Co. (NYSE:AA) Bought by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. acquired a new stake in shares of Alcoa Co. (NYSE:AA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 937,410 shares of the industrial products company’s stock, valued at approximately $36,165,000. Alcoa comprises 2.3% of Global Alpha Capital Management Ltd.’s portfolio, making the stock its 18th largest holding. Global Alpha Capital Management Ltd. owned approximately 0.36% of Alcoa as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Newbridge Financial Services Group Inc. bought a new position in Alcoa during the second quarter valued at $27,000. UMB Bank n.a. increased its position in Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 631 shares during the last quarter. Toronto Dominion Bank increased its position in Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares during the last quarter. Fifth Third Bancorp increased its position in Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 309 shares during the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new stake in shares of Alcoa during the second quarter valued at $102,000.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Alcoa Stock Up 3.6 %

NYSE:AA opened at $45.57 on Wednesday. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.55. The stock has a market capitalization of $11.77 billion, a P/E ratio of -25.89, a P/E/G ratio of 0.84 and a beta of 2.42. 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 company’s 50-day simple moving average is $39.59 and its 200-day simple moving average is $37.76.

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, beating analysts’ consensus estimates of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations 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 revenue was up 11.6% compared to the same quarter last year. During the same period last year, the business earned ($1.14) EPS. On average, equities analysts anticipate 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. Investors of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, October 29th. Alcoa’s payout ratio is currently -22.73%.

Wall Street Analyst Weigh In

AA has been the subject of a number of recent analyst reports. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Wednesday, October 23rd. BMO Capital Markets boosted their target price on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, UBS Group boosted their target price 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. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.75.

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.