UMB Bank n.a. Increases Position in Alcoa Co. (NYSE:AA)

UMB Bank n.a. increased its stake in shares of Alcoa Co. (NYSE:AA) by 481.7% in the third quarter, HoldingsChannel reports. The firm owned 762 shares of the industrial products company’s stock after buying an additional 631 shares during the period. UMB Bank n.a.’s holdings in Alcoa were worth $29,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Confluence Investment Management LLC purchased a new stake in shares of Alcoa during the first quarter valued at about $351,000. Los Angeles Capital Management LLC purchased a new position in Alcoa during the 1st quarter worth $210,000. Banque Cantonale Vaudoise increased its position in Alcoa by 24.7% during the 1st quarter. Banque Cantonale Vaudoise now owns 4,044 shares of the industrial products company’s stock valued at $137,000 after buying an additional 800 shares in the last quarter. Douglas Lane & Associates LLC raised its stake in Alcoa by 12.9% in the first quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company’s stock valued at $45,675,000 after buying an additional 154,403 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in Alcoa in the first quarter worth about $252,000. Institutional investors own 82.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. B. Riley increased their price objective on shares of Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley decreased their price target on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. assumed coverage on shares of Alcoa in a report on Wednesday, September 25th. They set a “neutral” rating and a $36.00 price objective on the stock. UBS Group raised their target price on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $42.55.

Alcoa Trading Down 1.2 %

Shares of NYSE:AA opened at $41.31 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $45.48. The business has a 50 day moving average of $34.29 and a two-hundred day moving average of $36.67. The company has a market capitalization of $7.42 billion, a PE ratio of -10.99 and a beta of 2.42.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the business posted ($0.35) EPS. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts forecast that Alcoa Co. will post 0.29 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

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.