Alcoa Co. (NYSE:AA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 416,299 shares of the industrial products company's stock after selling 15,100 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.16% of Alcoa worth $15,728,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Newbridge Financial Services Group Inc. purchased a new stake in Alcoa in the second quarter valued at $27,000. UMB Bank n.a. increased its position in shares of Alcoa by 481.7% during the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock worth $29,000 after purchasing an additional 631 shares in the last quarter. Quarry LP purchased a new stake in shares of Alcoa in the 3rd quarter valued at about $43,000. Continuum Advisory LLC boosted its position in shares of Alcoa by 1,945.5% in the 3rd quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock valued at $46,000 after purchasing an additional 1,070 shares during the period. Finally, GAMMA Investing LLC grew its stake in Alcoa by 399.0% during the 4th quarter. GAMMA Investing LLC now owns 1,447 shares of the industrial products company's stock worth $55,000 after buying an additional 1,157 shares during the last quarter.

Alcoa Stock Up 1.7 %

AA stock traded up $0.66 during trading on Friday, reaching $39.57. 4,476,661 shares of the company were exchanged, compared to its average volume of 3,241,707. Alcoa Co. has a 52-week low of $24.86 and a 52-week high of $47.77. 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's 50 day moving average price is $40.70 and its 200 day moving average price is $37.79.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. Alcoa's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted ($1.14) EPS. As a group, equities research analysts forecast that Alcoa Co. will post 0.93 EPS for the current year.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares in the company, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

AA has been the subject of a number of research reports. Argus upgraded Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research note on Wednesday, October 23rd. B. Riley upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and upped their price target for the company from $41.00 to $50.00 in a research report on Thursday, October 17th. UBS Group raised their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Thursday. Finally, StockNews.com raised Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.36.

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.