Daiwa Securities Group Inc. Purchases 15,000 Shares of Alcoa Co. (NYSE:AA)

Daiwa Securities Group Inc. increased its stake in Alcoa Co. (NYSE:AA - Free Report) by 71.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,900 shares of the industrial products company's stock after purchasing an additional 15,000 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Alcoa were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AA. Newbridge Financial Services Group Inc. acquired a new stake in Alcoa during the 2nd quarter valued at $27,000. UMB Bank n.a. lifted its stake in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock worth $29,000 after acquiring an additional 631 shares in the last quarter. Fifth Third Bancorp boosted its position in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock worth $94,000 after acquiring an additional 309 shares during the period. William B. Walkup & Associates Inc. purchased a new position in Alcoa during the 2nd quarter valued at about $102,000. Finally, Blue Trust Inc. increased its holdings in shares of Alcoa by 536.7% in the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company's stock valued at $114,000 after purchasing an additional 2,426 shares during the period. Hedge funds and other institutional investors own 82.39% of the company's stock.

Insider Buying and Selling at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the company's stock in a transaction dated 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 owns 57,317 shares of the company's stock, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.08% of the company's stock.

Alcoa Stock Performance

Shares of NYSE:AA traded up $0.55 during trading on Friday, reaching $46.43. The stock had a trading volume of 1,785,249 shares, compared to its average volume of 5,792,855. 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 has a fifty day simple moving average of $41.70 and a two-hundred day simple moving average of $38.24. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of -26.39, a P/E/G ratio of 0.92 and a beta of 2.42. Alcoa Co. has a 52 week low of $23.80 and a 52 week high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping 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 business's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted ($1.14) EPS. As a group, analysts anticipate that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date was Tuesday, October 29th. Alcoa's dividend payout ratio (DPR) is currently -22.73%.

Analyst Ratings Changes

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. B. Riley upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and boosted their price target for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Morgan Stanley increased their price objective on Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Friday, October 18th. Argus upgraded Alcoa from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research note on Wednesday, October 23rd. Finally, StockNews.com raised Alcoa from a "sell" rating to a "hold" rating in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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.