Glenmede Trust Co. NA Grows Stock Position in Alcoa Co. (NYSE:AA)

Glenmede Trust Co. NA increased its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 14.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,791 shares of the industrial products company's stock after purchasing an additional 11,484 shares during the quarter. Glenmede Trust Co. NA's holdings in Alcoa were worth $3,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Newbridge Financial Services Group Inc. bought a new position in shares of Alcoa during the 2nd quarter valued at about $27,000. UMB Bank n.a. grew its holdings in Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock valued at $29,000 after buying an additional 631 shares in the last quarter. Fifth Third Bancorp increased its stake in Alcoa by 15.1% in 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 last quarter. William B. Walkup & Associates Inc. purchased a new stake in shares of Alcoa during the 2nd quarter worth approximately $102,000. Finally, Blue Trust Inc. boosted its position in shares of Alcoa by 536.7% during the 2nd quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company's stock valued at $114,000 after acquiring an additional 2,426 shares during the last quarter.

Alcoa Trading Up 1.2 %

AA traded up $0.55 during trading on Friday, hitting $46.43. 1,785,249 shares of the stock were exchanged, compared to its average volume of 4,613,110. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The firm has a 50 day simple moving average of $41.70 and a 200 day simple moving average of $38.23. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of -26.38, a P/E/G ratio of 0.93 and a beta of 2.42. Alcoa Co. has a 1 year low of $23.80 and a 1 year high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results 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. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the firm posted ($1.14) earnings per share. The business's revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts expect that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.86%. Alcoa's dividend payout ratio is presently -22.73%.

Insider Activity at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent research reports. UBS Group upped their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. B. Riley raised shares of Alcoa from a "neutral" rating to a "buy" rating and increased their price target for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Argus raised Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price objective on the stock in a research note on Wednesday, October 23rd. B. Riley Financial restated a "neutral" rating and set a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. Finally, Morgan Stanley boosted their target price on Alcoa from $48.00 to $49.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. 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.com, Alcoa currently has a consensus rating of "Moderate Buy" and an average price target of $45.25.

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.