Quantinno Capital Management LP Makes New Investment in Alcoa Co. (NYSE:AA)

Quantinno Capital Management LP acquired a new position in Alcoa Co. (NYSE:AA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,551 shares of the industrial products company’s stock, valued at approximately $253,000.

Other large investors have also modified their holdings of the company. Quarry LP acquired a new stake in Alcoa in the 3rd quarter valued at approximately $43,000. Millburn Ridgefield Corp acquired a new stake in shares of Alcoa in the third quarter worth $89,000. Mountaineer Partners Management LLC increased its position in 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 acquiring an additional 10,534,036 shares during the period. Janus Henderson Group PLC raised its stake in Alcoa by 318.9% during the 3rd quarter. Janus Henderson Group PLC now owns 349,341 shares of the industrial products company’s stock valued at $13,479,000 after purchasing an additional 265,941 shares during the last quarter. Finally, Concentric Capital Strategies LP acquired a new stake in Alcoa in the 3rd quarter worth $2,055,000. 82.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Renato Bacchi sold 23,867 shares of the firm’s 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 transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AA shares. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley boosted their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Bank of America raised their target price on Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Thursday, November 28th. Finally, 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 report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and an average price target of $46.73.

Alcoa Price Performance

Shares of Alcoa stock opened at $38.46 on Tuesday. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of -21.85, a P/E/G ratio of 0.79 and a beta of 2.44. The firm’s 50-day moving average price is $42.63 and its two-hundred day moving average price is $38.22. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa Co. has a 1-year low of $24.86 and a 1-year high of $47.77.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating 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 return on equity of 1.45% and a negative net margin of 2.65%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted ($1.14) EPS. On average, equities analysts predict that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 1.04%. Alcoa’s dividend payout ratio (DPR) is -22.73%.

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.