Alcoa Co. (NYSE:AA) Stock Position Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 42.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,193,744 shares of the industrial products company's stock after buying an additional 1,239,479 shares during the quarter. Geode Capital Management LLC owned about 1.62% of Alcoa worth $161,838,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. purchased a new stake in shares of Alcoa in the 2nd quarter valued at approximately $27,000. UMB Bank n.a. increased its holdings in Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 631 shares during the last quarter. Quarry LP purchased a new stake in Alcoa in the third quarter valued at approximately $43,000. Continuum Advisory LLC lifted its stake in Alcoa by 1,945.5% during the third quarter. Continuum Advisory LLC now owns 1,125 shares of the industrial products company's stock worth $46,000 after purchasing an additional 1,070 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in shares of Alcoa during the third quarter worth $89,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AA. BMO Capital Markets increased their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a "market perform" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" 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 price target for the company in a research note on Wednesday, October 23rd. UBS Group increased their price objective on Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. Finally, B. Riley upgraded Alcoa from a "neutral" rating to a "buy" rating and upped their price target for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Alcoa has a consensus rating of "Moderate Buy" and an average target price of $46.73.

Insiders Place Their Bets

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 value of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares of the company's stock, valued at $2,423,935.93. This trade 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 available at this link. 1.08% of the stock is currently owned by company insiders.

Alcoa Stock Down 1.7 %

AA stock traded down $0.66 during midday trading on Monday, hitting $38.46. 3,512,863 shares of the company's stock were exchanged, compared to its average volume of 5,737,602. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of -22.23, a price-to-earnings-growth ratio of 0.79 and a beta of 2.44. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $42.65 and a 200-day moving average price of $38.26. Alcoa Co. has a 12-month low of $24.86 and a 12-month high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.14) EPS. On average, analysts anticipate that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Announces Dividend

The company also recently disclosed 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. This represents a $0.40 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa's payout ratio is currently -22.73%.

About Alcoa

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.