937,410 Shares in Alcoa Co. (NYSE:AA) Bought by Global Alpha Capital Management Ltd.

Global Alpha Capital Management Ltd. bought a new position in shares of Alcoa Co. (NYSE:AA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 937,410 shares of the industrial products company's stock, valued at approximately $36,165,000. Alcoa makes up 2.3% of Global Alpha Capital Management Ltd.'s investment portfolio, making the stock its 18th biggest position. Global Alpha Capital Management Ltd. owned approximately 0.36% of Alcoa at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Alcoa during the second quarter valued at approximately $27,000. UMB Bank n.a. boosted its stake in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock worth $29,000 after acquiring an additional 631 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company's stock worth $57,000 after purchasing an additional 1,592 shares during the period. Fifth Third Bancorp increased its holdings in Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 309 shares in the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in shares of Alcoa during the second quarter valued at about $102,000.

Alcoa Stock Performance

Alcoa stock traded up $0.14 during midday trading on Wednesday, hitting $45.74. The stock had a trading volume of 3,760,319 shares, compared to its average volume of 5,849,426. 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 52-week low of $23.80 and a 52-week high of $46.55. The firm's fifty day moving average is $39.59 and its two-hundred day moving average is $37.76. The company has a market capitalization of $11.82 billion, a PE ratio of -25.89, a P/E/G ratio of 0.84 and a beta of 2.42.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm earned ($1.14) earnings per share. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts forecast that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.87%. The ex-dividend date was Tuesday, October 29th. Alcoa's payout ratio is currently -22.73%.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa 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 sale, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AA shares. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Argus raised shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Wednesday, October 23rd. B. Riley Financial reissued a "neutral" rating and issued a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. UBS Group raised 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. Finally, B. Riley upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.75.

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.