Concentric Capital Strategies LP Buys New Holdings in Alcoa Co. (NYSE:AA)

Concentric Capital Strategies LP bought a new position in shares of Alcoa Co. (NYSE:AA - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 53,276 shares of the industrial products company's stock, valued at approximately $2,055,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. ING Groep NV bought a new position in shares of Alcoa during the third quarter worth about $10,201,000. Douglas Lane & Associates LLC lifted its position in 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 buying an additional 27,217 shares in the last quarter. Aigen Investment Management LP lifted its holdings in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company's stock valued at $1,422,000 after buying an additional 15,546 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Alcoa during the second quarter worth $706,000. Finally, Van ECK Associates Corp grew its stake in Alcoa by 43.4% in the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company's stock valued at $11,361,000 after buying an additional 82,073 shares during the last quarter.

Alcoa Stock Down 0.0 %

NYSE:AA traded down $0.01 on Tuesday, reaching $45.69. 1,122,995 shares of the stock traded hands, compared to its average volume of 5,763,731. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. Alcoa Co. has a 12 month low of $23.80 and a 12 month high of $47.77. The company has a market capitalization of $11.80 billion, a price-to-earnings ratio of -26.09, a PEG ratio of 0.93 and a beta of 2.44. The company's fifty day simple moving average is $41.93 and its 200 day simple moving average is $38.26.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion for 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 was up 11.6% on a year-over-year basis. During the same period last year, the firm earned ($1.14) EPS. Equities analysts predict that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, October 29th. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

Insiders Place Their Bets

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

Several equities analysts have commented on AA shares. B. Riley Financial reaffirmed a "neutral" rating and issued a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. B. Riley upgraded Alcoa from a "neutral" rating to a "buy" rating and raised their target price for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Wolfe Research raised Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. UBS Group raised their target price on Alcoa from $40.00 to $50.00 and gave the stock a "buy" rating in a report on Tuesday, October 15th. Finally, StockNews.com raised Alcoa from a "sell" rating to a "hold" rating in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.25.

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.