Charles Schwab Investment Management Inc. Raises Stake in Alcoa Co. (NYSE:AA)

Charles Schwab Investment Management Inc. lifted its position in Alcoa Co. (NYSE:AA) by 32.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,888,590 shares of the industrial products company’s stock after purchasing an additional 467,986 shares during the period. Charles Schwab Investment Management Inc. owned about 0.73% of Alcoa worth $72,862,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC grew its position in shares of Alcoa by 518.6% during the first quarter. Tidal Investments LLC now owns 51,311 shares of the industrial products company’s stock worth $1,734,000 after purchasing an additional 43,016 shares in the last quarter. Comerica Bank boosted its stake in Alcoa by 74.4% in the 1st quarter. Comerica Bank now owns 134,705 shares of the industrial products company’s stock worth $4,552,000 after purchasing an additional 57,484 shares during the period. Cetera Advisors LLC grew its holdings in Alcoa by 24.0% during the 1st quarter. Cetera Advisors LLC now owns 10,831 shares of the industrial products company’s stock valued at $366,000 after buying an additional 2,096 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Alcoa by 9.9% during the second quarter. Confluence Investment Management LLC now owns 11,428 shares of the industrial products company’s stock valued at $455,000 after buying an additional 1,027 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its holdings in shares of Alcoa by 3.2% in the second quarter. Douglas Lane & Associates LLC now owns 1,394,738 shares of the industrial products company’s stock worth $55,483,000 after buying an additional 43,018 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AA. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Wednesday, September 4th. BMO Capital Markets increased their price target on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.25.

Alcoa Price Performance

AA stock opened at $45.88 on Friday. 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 12 month low of $23.80 and a 12 month high of $47.77. The stock has a market cap of $11.85 billion, a PE ratio of -26.07, a P/E/G ratio of 0.89 and a beta of 2.42. The company has a 50-day moving average price of $41.22 and a 200 day moving average price of $38.15.

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

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid 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 was Tuesday, October 29th. Alcoa’s dividend payout ratio is currently -22.73%.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction that occurred on 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 owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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.