Alcoa Co. (NYSE:AA) is Mountaineer Partners Management LLC's 9th Largest Position

Mountaineer Partners Management LLC boosted its position in Alcoa Co. (NYSE:AA - Free Report) by 4,023.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,795,880 shares of the industrial products company's stock after acquiring an additional 10,534,036 shares during the period. Alcoa accounts for 3.5% of Mountaineer Partners Management LLC's portfolio, making the stock its 9th largest position. Mountaineer Partners Management LLC owned 4.18% of Alcoa worth $416,505,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AA. Newbridge Financial Services Group Inc. acquired a new position in Alcoa in the second quarter valued at about $27,000. UMB Bank n.a. lifted its stake in Alcoa by 481.7% in the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock valued at $29,000 after buying an additional 631 shares during the period. Fifth Third Bancorp raised its position in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock worth $94,000 after purchasing an additional 309 shares during the period. William B. Walkup & Associates Inc. acquired a new stake in shares of Alcoa during the second quarter worth about $102,000. Finally, Blue Trust Inc. raised its position 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 worth $114,000 after purchasing an additional 2,426 shares during the period.

Alcoa Price Performance

AA stock traded down $0.13 during midday trading on Wednesday, reaching $45.77. 2,103,700 shares of the stock were exchanged, compared to its average volume of 5,754,055. Alcoa Co. has a 52 week low of $23.80 and a 52 week high of $47.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The company has a fifty day moving average price of $42.11 and a 200 day moving average price of $38.29. The stock has a market capitalization of $11.83 billion, a PE ratio of -26.08, a P/E/G ratio of 0.92 and a beta of 2.44.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping 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 business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the business earned ($1.14) EPS. The firm's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, analysts expect that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.87%. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

Analyst Upgrades and Downgrades

AA has been the topic of a number of research analyst reports. Bank of America raised their price target on Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Thursday, November 28th. B. Riley Financial reaffirmed a "neutral" rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. BMO Capital Markets lifted their target price on Alcoa from $42.00 to $45.00 and gave the company a "market perform" rating in a research report on Thursday, October 17th. StockNews.com raised Alcoa from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Finally, Argus raised Alcoa from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $45.25.

Insider Buying and Selling at Alcoa

In other 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 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. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.