GAMMA Investing LLC Has $55,000 Stake in Alcoa Co. (NYSE:AA)

GAMMA Investing LLC lifted its position in shares of Alcoa Co. (NYSE:AA) by 399.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,447 shares of the industrial products company’s stock after purchasing an additional 1,157 shares during the quarter. GAMMA Investing LLC’s holdings in Alcoa were worth $55,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Confluence Investment Management LLC increased its holdings in Alcoa by 7.2% during the fourth quarter. Confluence Investment Management LLC now owns 13,999 shares of the industrial products company’s stock worth $529,000 after buying an additional 936 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Alcoa by 41.6% during the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock worth $12,107,000 after purchasing an additional 92,201 shares during the period. Synovus Financial Corp acquired a new stake in Alcoa in the 3rd quarter worth about $456,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Alcoa in the third quarter valued at approximately $239,000. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Alcoa by 37.0% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 80,831 shares of the industrial products company’s stock worth $3,118,000 after purchasing an additional 21,830 shares during the period. 82.39% of the stock is currently owned by institutional investors.

Alcoa Price Performance

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

Alcoa (NYSE:AA) last issued its quarterly earnings data 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 business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the firm posted ($1.14) EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts anticipate that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a 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 note on Tuesday, October 15th. Morgan Stanley lifted their target price on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group cut their price target on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.45.

Insider Buying and Selling

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the company’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 transaction, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.08% of the stock is currently owned by insiders.

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.