International Assets Investment Management LLC Invests $41.72 Million in Alcoa Co. (NYSE:AA)

International Assets Investment Management LLC purchased a new stake in shares of Alcoa Co. (NYSE:AA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 108,129 shares of the industrial products company’s stock, valued at approximately $41,720,000. International Assets Investment Management LLC owned approximately 0.06% of Alcoa at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Alcoa in the 2nd quarter worth approximately $27,000. UMB Bank n.a. increased its position in Alcoa by 481.7% in 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 period. Toronto Dominion Bank lifted its stake 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 last quarter. Fifth Third Bancorp boosted its holdings in shares of 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 period. Finally, Headlands Technologies LLC bought a new position in shares of Alcoa during the first quarter worth about $101,000. 82.39% of the stock is currently owned by institutional investors.

Alcoa Price Performance

Shares of NYSE AA opened at $41.10 on Monday. The firm has a 50-day moving average of $35.97 and a two-hundred day moving average of $36.98. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of -10.93 and a beta of 2.42. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa Co. has a twelve month low of $23.17 and a twelve month high of $45.48.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm posted ($1.14) earnings per share. As a group, analysts expect that Alcoa Co. will post 0.29 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Analyst Ratings Changes

A number of research analysts have issued reports on AA shares. 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. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley increased their price target on Alcoa from $48.00 to $49.00 and gave the stock 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Insider Activity

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the business’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 approximately $2,423,935.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.08% of the stock is currently owned by company insiders.

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.