Alcoa Co. (NYSE:AA) Shares Acquired by Amalgamated Bank

Amalgamated Bank grew its holdings in Alcoa Co. (NYSE:AA - Free Report) by 35.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,780 shares of the industrial products company's stock after purchasing an additional 31,948 shares during the quarter. Amalgamated Bank owned about 0.07% of Alcoa worth $4,737,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Newbridge Financial Services Group Inc. acquired a new stake in Alcoa in the 2nd quarter valued at approximately $27,000. UMB Bank n.a. increased its holdings in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 631 shares during the last quarter. Toronto Dominion Bank increased its holdings in Alcoa by 1,501.9% in the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 1,592 shares during the last quarter. 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 during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new stake in Alcoa in the 2nd quarter valued at approximately $102,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the sale, the executive vice president now directly owns 57,317 shares of the company's stock, valued at approximately $2,423,935.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.08% of the company's stock.

Alcoa Stock Performance

AA traded down $0.90 on Friday, reaching $44.79. The company had a trading volume of 3,885,229 shares, compared to its average volume of 5,875,210. Alcoa Co. has a 1 year low of $23.80 and a 1 year high of $46.55. The stock has a market capitalization of $11.57 billion, a PE ratio of -24.95, a P/E/G ratio of 0.78 and a beta of 2.42. 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 moving average price of $37.52 and a 200-day moving average price of $37.35.

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

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.89%. Alcoa's payout ratio is -22.73%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Bank of America upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and lifted their target price for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. BMO Capital Markets boosted their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a "market perform" rating in a research note on Thursday, October 17th. B. Riley Financial restated a "neutral" rating and issued a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. B. Riley upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $41.00 to $50.00 in a research note on Thursday, October 17th. Finally, Morgan Stanley boosted their price target 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. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Alcoa presently has a consensus rating of "Moderate Buy" and a consensus target price of $44.75.

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.