Alcoa Co. (NYSE:AA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Alcoa Co. (NYSE:AA) by 4.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,400 shares of the industrial products company’s stock after selling 1,000 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Alcoa were worth $826,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in Alcoa during the 2nd quarter valued at approximately $27,000. UMB Bank n.a. lifted its stake in Alcoa by 481.7% in the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after buying an additional 631 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares during the period. Fifth Third Bancorp grew its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 309 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Alcoa in the 2nd quarter worth about $102,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. 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 report on Wednesday, September 4th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and raised their target price for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. UBS Group boosted their price target on Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. Finally, Morgan Stanley increased their price target on Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Alcoa currently has an average rating of “Moderate Buy” and an average target price of $44.75.

Alcoa Trading Up 3.6 %

Shares of AA stock opened at $45.57 on Wednesday. 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 stock has a 50-day simple moving average of $39.59 and a 200 day simple moving average of $37.76. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.55. The stock has a market capitalization of $11.77 billion, a P/E ratio of -25.89, a P/E/G ratio of 0.84 and a beta of 2.42.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the firm posted ($1.14) EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Alcoa Co. will post 0.89 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. Shareholders of record on Tuesday, October 29th were issued 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 dividend payout ratio is currently -22.73%.

Insider Buying and Selling at Alcoa

In other Alcoa 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 transaction of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alcoa 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.