UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Holdings in Alcoa Co. (NYSE:AA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Alcoa Co. (NYSE:AA) by 6.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 628,116 shares of the industrial products company’s stock after purchasing an additional 36,869 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.24% of Alcoa worth $24,233,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AA. ING Groep NV bought a new stake in Alcoa during the 3rd quarter valued at $10,201,000. Douglas Lane & Associates LLC grew its stake in Alcoa by 2.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock valued at $54,859,000 after purchasing an additional 27,217 shares during the last quarter. Aigen Investment Management LP raised its holdings in Alcoa by 73.0% in the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock worth $1,422,000 after purchasing an additional 15,546 shares in the last quarter. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Alcoa during the second quarter valued at about $706,000. Finally, Van ECK Associates Corp grew its position in shares of Alcoa by 43.4% in the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock worth $11,361,000 after buying an additional 82,073 shares during the last quarter.

Alcoa Stock Up 0.7 %

Shares of NYSE:AA opened at $46.17 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa Co. has a 12-month low of $23.80 and a 12-month high of $47.77. The business has a 50 day moving average of $42.31 and a two-hundred day moving average of $38.34.

Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the firm posted ($1.14) earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, research analysts expect that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Insider Activity at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Bank of America upped their price objective on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Thursday, November 28th. 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. UBS Group lifted their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $45.25.

About Alcoa

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.