Quest Partners LLC Grows Stake in Alcoa Co. (NYSE:AA)

Quest Partners LLC raised its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 2,530,300.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,304 shares of the industrial products company's stock after buying an additional 25,303 shares during the period. Quest Partners LLC's holdings in Alcoa were worth $976,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AA. ANTIPODES PARTNERS Ltd purchased a new stake in Alcoa during the 2nd quarter valued at $93,061,000. L1 Capital Pty Ltd purchased a new stake in Alcoa during the 1st quarter valued at $72,658,000. Marshall Wace LLP raised its stake in Alcoa by 770.9% during the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company's stock valued at $56,599,000 after buying an additional 1,259,430 shares during the last quarter. Capital Research Global Investors grew its position in shares of Alcoa by 29.8% during the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company's stock valued at $69,869,000 after acquiring an additional 475,000 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company's stock valued at $49,958,000 after acquiring an additional 444,393 shares during the period. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AA shares. Wolfe Research raised shares of 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. B. Riley raised shares of Alcoa from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. StockNews.com raised shares of Alcoa from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Bank of America raised shares of Alcoa from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. Finally, B. Riley Financial reissued a "neutral" rating and set a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Alcoa has a consensus rating of "Moderate Buy" and a consensus price target of $44.75.

Insider Activity

In related news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.08% of the company's stock.

Alcoa Trading Up 0.3 %

Shares of Alcoa stock opened at $45.74 on Thursday. The company has a fifty day moving average of $39.91 and a 200 day moving average of $37.82. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.55. The company has a market capitalization of $11.82 billion, a P/E ratio of -25.99, a P/E/G ratio of 0.84 and a beta of 2.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted ($1.14) earnings per share. On average, sell-side analysts anticipate that Alcoa Co. will post 0.89 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.87%. Alcoa's payout ratio is -22.73%.

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.