Impala Asset Management LLC Invests $6.37 Million in Alcoa Co. (NYSE:AA)

Impala Asset Management LLC acquired a new stake in Alcoa Co. (NYSE:AA - Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 165,000 shares of the industrial products company's stock, valued at approximately $6,366,000. Alcoa makes up about 4.4% of Impala Asset Management LLC's holdings, making the stock its 7th largest holding. Impala Asset Management LLC owned about 0.06% of Alcoa as of its most recent filing with the Securities & Exchange Commission.

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

Alcoa Price Performance

Shares of NYSE AA traded down $0.89 during mid-day trading on Tuesday, reaching $41.10. 5,114,533 shares of the company were exchanged, compared to its average volume of 5,760,038. The company's 50 day moving average price is $42.61 and its 200 day moving average price is $38.33. Alcoa Co. has a 52 week low of $23.80 and a 52 week high of $47.77. 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 market capitalization of $10.62 billion, a PE ratio of -23.35, a PEG ratio of 0.85 and a beta of 2.44.

Alcoa (NYSE:AA - Get Free Report) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analysts' expectations 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 quarter last year, the company earned ($1.14) EPS. Sell-side analysts forecast 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 issued 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 yield of 0.97%. Alcoa's dividend payout ratio is currently -22.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AA shares. StockNews.com raised Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. BMO Capital Markets boosted their target price on Alcoa from $42.00 to $45.00 and gave the company a "market perform" rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Alcoa from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Bank of America lifted their price target on Alcoa to $58.00 and gave the company a "buy" rating in a research report on Thursday, November 28th. Finally, B. Riley upgraded Alcoa from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $46.73.

Insider Transactions at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction 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 approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.08% of the stock is currently owned by company insiders.

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.