Alcoa Co. (NYSE:AA) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in Alcoa Co. (NYSE:AA) by 399.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,447 shares of the industrial products company’s stock after purchasing an additional 1,157 shares during the period. GAMMA Investing LLC’s holdings in Alcoa were worth $55,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Mountaineer Partners Management LLC boosted its stake in shares of Alcoa by 4,023.0% during the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company’s stock worth $416,505,000 after buying an additional 10,534,036 shares during the period. State Street Corp increased its position in shares of Alcoa by 23.3% in the third quarter. State Street Corp now owns 9,563,645 shares of the industrial products company’s stock valued at $368,965,000 after buying an additional 1,805,915 shares in the last quarter. Paloma Partners Management Co raised its stake in shares of Alcoa by 11,317.8% during the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company’s stock worth $55,084,000 after buying an additional 1,415,294 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after buying an additional 1,259,430 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Alcoa by 42.0% in the 3rd quarter. Geode Capital Management LLC now owns 4,193,744 shares of the industrial products company’s stock valued at $161,838,000 after acquiring an additional 1,239,479 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Alcoa Trading Down 0.1 %

Shares of AA opened at $35.95 on Monday. The stock’s 50-day moving average price is $41.29 and its 200 day moving average price is $37.82. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of -20.43, a P/E/G ratio of 0.79 and a beta of 2.47.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS 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 2.65% and a negative return on equity of 1.45%. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.14) earnings per share. As a group, research analysts predict that Alcoa Co. will post 0.9 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. Alcoa’s dividend payout ratio is -22.73%.

Analysts Set New Price Targets

A number of analysts recently issued reports on AA shares. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, October 23rd. UBS Group upped their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and a consensus price target of $46.45.

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.