The Manufacturers Life Insurance Company Buys 46,897 Shares of Alcoa Co. (NYSE:AA)

The Manufacturers Life Insurance Company raised its position in Alcoa Co. (NYSE:AA) by 18.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 306,162 shares of the industrial products company’s stock after purchasing an additional 46,897 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Alcoa worth $11,812,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after purchasing an additional 309 shares in the last quarter. Blue Trust Inc. raised its position in Alcoa by 12.0% in the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company’s stock worth $128,000 after acquiring an additional 344 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Alcoa by 1.4% in the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company’s stock worth $1,073,000 after purchasing an additional 368 shares during the period. Rosenberg Matthew Hamilton raised its stake in shares of Alcoa by 15.3% in the third quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company’s stock valued at $133,000 after buying an additional 459 shares during the period. Finally, Eads & Heald Wealth Management lifted its holdings in Alcoa by 6.6% during the third quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company’s stock valued at $324,000 after purchasing an additional 517 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Stock Performance

Alcoa stock opened at $45.71 on Tuesday. Alcoa Co. has a twelve month low of $23.80 and a twelve month high of $47.77. The company has a market capitalization of $11.81 billion, a P/E ratio of -25.97, a PEG ratio of 0.93 and a beta of 2.42. The stock’s 50 day moving average is $41.70 and its 200 day moving average is $38.22. 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 (NYSE:AA) last posted its 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 business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned ($1.14) EPS. On average, equities research analysts predict that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. Alcoa’s payout ratio is -22.73%.

Insiders Place Their Bets

In related 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 value 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. The trade was a 29.40 % decrease in their ownership of the stock. 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 corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America raised their target price on shares of Alcoa to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 28th. UBS Group lifted their price target on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a report on Tuesday, September 17th. Finally, 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 research report on Wednesday, September 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and a consensus price target of $45.25.

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.