Ballentine Partners LLC Boosts Stock Holdings in Alcoa Co. (NYSE:AA)

Ballentine Partners LLC boosted its stake in shares of Alcoa Co. (NYSE:AA) by 13.1% during the third quarter, HoldingsChannel.com reports. The firm owned 8,694 shares of the industrial products company’s stock after acquiring an additional 1,010 shares during the period. Ballentine Partners LLC’s holdings in Alcoa were worth $335,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd purchased a new position in shares of Alcoa in the 2nd quarter valued at $93,061,000. L1 Capital Pty Ltd purchased a new position in shares of Alcoa in the 1st quarter valued at $72,658,000. Marshall Wace LLP raised its stake 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 valued at $56,599,000 after acquiring an additional 1,259,430 shares during the period. Capital Research Global Investors raised its stake in shares of Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after acquiring an additional 475,000 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock valued at $49,958,000 after purchasing an additional 444,393 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on AA shares. Morgan Stanley raised their price target on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, October 23rd. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Wednesday, September 4th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Finally, Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and an average price target of $44.75.

Insider Activity at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is currently owned by insiders.

Alcoa Trading Up 0.7 %

NYSE AA opened at $41.40 on Tuesday. Alcoa Co. has a one year low of $23.80 and a one year high of $45.48. The company has a 50-day simple moving average of $36.12 and a 200-day simple moving average of $37.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The firm has a market capitalization of $7.43 billion, a PE ratio of -11.01 and a beta of 2.42.

Alcoa (NYSE:AA) last posted its quarterly 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. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the business posted ($1.14) EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts forecast that Alcoa Co. will post 0.29 earnings per share for the current year.

Alcoa Dividend Announcement

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

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.