Los Angeles Capital Management LLC Sells 23,257 Shares of Alcoa Co. (NYSE:AA)

Los Angeles Capital Management LLC decreased its position in Alcoa Co. (NYSE:AA - Free Report) by 73.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,372 shares of the industrial products company's stock after selling 23,257 shares during the quarter. Los Angeles Capital Management LLC's holdings in Alcoa were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new position in Alcoa during the 1st quarter valued at approximately $593,000. Douglas Lane & Associates LLC increased its holdings in shares of Alcoa by 2.0% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company's stock worth $54,859,000 after acquiring an additional 27,217 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in Alcoa in the 2nd quarter worth about $706,000. Van ECK Associates Corp increased its stake in shares of Alcoa by 43.4% in the third quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company's stock valued at $11,361,000 after purchasing an additional 82,073 shares during the period. Finally, Blue Trust Inc. raised its holdings in shares of Alcoa by 536.7% during the second quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company's stock valued at $114,000 after buying an additional 2,426 shares during the last quarter.

Analysts Set New Price Targets

Several research firms recently commented on AA. B. Riley Financial restated a "neutral" rating and issued a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on Alcoa from $36.00 to $39.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Bank of America upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and increased their target price for the company from $43.00 to $52.00 in a research report on Tuesday, October 1st. 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 report on Thursday, October 17th. Finally, UBS Group increased their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $44.75.

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 that occurred on 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 $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Alcoa Price Performance

Shares of NYSE AA traded down $0.04 during mid-day trading on Monday, reaching $43.98. The company had a trading volume of 4,395,632 shares, compared to its average volume of 5,866,868. Alcoa Co. has a 1-year low of $23.80 and a 1-year high of $46.55. The stock has a market cap of $11.36 billion, a PE ratio of -24.99, a P/E/G ratio of 0.84 and a beta of 2.42. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $39.24 and a two-hundred day moving average price of $37.70.

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

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

About Alcoa

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.