Landscape Capital Management L.L.C. Invests $543,000 in Alcoa Co. (NYSE:AA)

Landscape Capital Management L.L.C. acquired a new position in Alcoa Co. (NYSE:AA) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,084 shares of the industrial products company’s stock, valued at approximately $543,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Newbridge Financial Services Group Inc. acquired a new position in shares of Alcoa in the 2nd quarter worth approximately $27,000. UMB Bank n.a. raised its stake in Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after buying an additional 631 shares during the last quarter. Toronto Dominion Bank lifted its holdings in Alcoa by 1,501.9% in the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,592 shares during the period. Fifth Third Bancorp boosted 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. acquired a new stake in Alcoa during the 2nd quarter worth about $102,000.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction on 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 directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Analyst Ratings Changes

Several brokerages recently commented on AA. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and increased their price target for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. Argus upgraded 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. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $52.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley lifted their price target on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Alcoa has an average rating of “Moderate Buy” and a consensus target price of $44.75.

Alcoa Price Performance

AA stock opened at $45.47 on Friday. 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 business has a 50-day simple moving average of $40.47 and a two-hundred day simple moving average of $37.94. The company has a market capitalization of $11.75 billion, a P/E ratio of -25.84, a price-to-earnings-growth ratio of 0.89 and a beta of 2.42. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $46.60.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business 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 company posted ($1.14) earnings per share. Alcoa’s revenue was up 11.6% compared to the same quarter last year. Research analysts expect that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Tuesday, October 29th. Alcoa’s payout ratio is currently -22.73%.

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.