Vontobel Holding Ltd. Buys 4,909 Shares of Alcoa Co. (NYSE:AA)

Vontobel Holding Ltd. boosted its stake in shares of Alcoa Co. (NYSE:AA) by 70.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,836 shares of the industrial products company’s stock after purchasing an additional 4,909 shares during the quarter. Vontobel Holding Ltd.’s holdings in Alcoa were worth $457,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ARGA Investment Management LP grew its stake in Alcoa by 202.2% in the 1st quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock valued at $50,399,000 after buying an additional 997,912 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Alcoa during the 1st quarter worth about $593,000. Douglas Lane & Associates LLC lifted its position in shares of Alcoa by 2.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after purchasing an additional 27,217 shares during the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in Alcoa during the 2nd quarter valued at approximately $706,000. Finally, Blue Trust Inc. grew its holdings in Alcoa by 536.7% in the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company’s stock valued at $114,000 after buying an additional 2,426 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Price Performance

Alcoa stock opened at $41.52 on Tuesday. The business has a 50 day simple moving average of $34.96 and a 200 day simple moving average of $36.79. Alcoa Co. has a one year low of $23.07 and a one year high of $45.48. The company has a market capitalization of $7.46 billion, a PE ratio of -11.04 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.14) EPS. On average, sell-side analysts forecast that Alcoa Co. will post 0.29 EPS for the current fiscal year.

Alcoa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.96%. Alcoa’s dividend payout ratio is -10.64%.

Analyst Ratings Changes

AA has been the subject of several research reports. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. BMO Capital Markets upped their price objective on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research report on Thursday, October 17th. B. Riley Financial reissued a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Finally, Morgan Stanley upped their price target on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Alcoa presently has a consensus rating of “Moderate Buy” and an average target price of $44.45.

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.