Atom Investors LP Makes New $3.45 Million Investment in Alcoa Co. (NYSE:AA)

Atom Investors LP acquired a new position in Alcoa Co. (NYSE:AA - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 89,370 shares of the industrial products company's stock, valued at approximately $3,448,000.

Other large investors also recently modified their holdings of the company. Fifth Third Bancorp grew its position in Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock worth $94,000 after buying an additional 309 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Alcoa by 12.0% in the 3rd quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company's stock valued at $128,000 after buying an additional 344 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Alcoa by 4.1% during the 3rd quarter. CreativeOne Wealth LLC now owns 9,114 shares of the industrial products company's stock worth $352,000 after purchasing an additional 360 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Alcoa by 1.4% in the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company's stock worth $1,073,000 after buying an additional 368 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its position in shares of Alcoa by 15.3% in the third quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company's stock valued at $133,000 after purchasing an additional 459 shares during the last quarter. 82.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AA has been the subject of several research reports. Bank of America increased their target price on shares of Alcoa to $58.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group lifted their price objective on Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Argus upgraded shares of 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. Finally, Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a report on Wednesday, September 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $45.25.

Alcoa Price Performance

AA traded down $0.72 during trading on Monday, hitting $45.71. 3,744,192 shares of the stock traded hands, compared to its average volume of 5,783,947. The company has a market cap of $11.81 billion, a price-to-earnings ratio of -25.97, a PEG ratio of 0.93 and a beta of 2.42. 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 business has a 50 day moving average price of $41.70 and a 200 day moving average price of $38.22. Alcoa Co. has a twelve month low of $23.80 and a twelve month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last released its 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. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.14) EPS. Equities research analysts forecast that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business 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. This represents a $0.40 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Tuesday, October 29th. Alcoa's dividend payout ratio (DPR) is -22.73%.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 57,317 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.08% of the company's stock.

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.