66,000 Shares in Alcoa Co. (NYSE:AA) Purchased by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Alcoa Co. (NYSE:AA - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 66,000 shares of the industrial products company's stock, valued at approximately $2,546,000.

Other large investors have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in Alcoa during the second quarter valued at $27,000. UMB Bank n.a. increased its position in shares of 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 purchasing an additional 631 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 309 shares during the last quarter. William B. Walkup & Associates Inc. bought a new position in shares of Alcoa in the 2nd quarter worth approximately $102,000. Finally, Blue Trust Inc. grew its position in Alcoa by 536.7% during the second quarter. Blue Trust Inc. now owns 2,878 shares of the industrial products company's stock valued at $114,000 after buying an additional 2,426 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AA. B. Riley Financial reiterated a "neutral" rating and issued a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. BMO Capital Markets raised their target price on Alcoa from $42.00 to $45.00 and gave the stock a "market perform" rating in a report on Thursday, October 17th. UBS Group boosted their price target on Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. Wolfe Research raised Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective on the stock in a research note on Wednesday, September 4th. Finally, Morgan Stanley lifted their price objective on Alcoa from $48.00 to $49.00 and gave the company an "overweight" rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $45.25.

Insider Buying and Selling at Alcoa

In other 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 sale, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Alcoa Price Performance

Shares of Alcoa stock traded up $0.55 on Friday, hitting $46.43. 1,785,249 shares of the company traded hands, 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 business has a 50-day simple moving average of $41.70 and a 200 day simple moving average of $38.23. Alcoa Co. has a 52 week low of $23.80 and a 52 week high of $47.77. The stock has a market capitalization of $12.00 billion, a P/E ratio of -26.38, a price-to-earnings-growth ratio of 0.93 and a beta of 2.42.

Alcoa (NYSE:AA - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.34. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the firm posted ($1.14) EPS. Alcoa's revenue for the quarter was up 11.6% compared to the same quarter last year. Research analysts expect that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were paid a dividend of $0.10 per share. 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 payout ratio is presently -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.