Impax Asset Management Group plc Buys New Shares in Alcoa Co. (NYSE:AA)

Impax Asset Management Group plc acquired a new position in shares of Alcoa Co. (NYSE:AA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,207 shares of the industrial products company's stock, valued at approximately $664,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in AA. Newbridge Financial Services Group Inc. purchased a new stake in Alcoa in the 2nd quarter valued at $27,000. UMB Bank n.a. raised its holdings in shares of Alcoa by 481.7% in the third 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 during the last quarter. Toronto Dominion Bank boosted its stake in shares of Alcoa by 1,501.9% during the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company's stock worth $57,000 after buying an additional 1,592 shares during the period. Fifth Third Bancorp grew its holdings in shares of Alcoa by 15.1% during the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock worth $94,000 after buying an additional 309 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new position in Alcoa in the 2nd quarter valued at about $102,000.

Alcoa Price Performance

Shares of NYSE:AA traded up $2.81 during trading on Friday, hitting $44.02. 11,259,774 shares of the stock were exchanged, compared to its average volume of 4,391,957. The company has a market cap of $11.37 billion, a PE ratio of -25.01, a P/E/G ratio of 0.84 and a beta of 2.42. 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 company has a fifty day moving average price of $38.94 and a two-hundred day moving average price of $37.65. Alcoa Co. has a 12-month low of $23.80 and a 12-month high of $46.55.

Alcoa (NYSE:AA - Get Free Report) last posted 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 the consensus estimate of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. Alcoa's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.14) earnings per share. On average, analysts forecast that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa's payout ratio is currently -22.73%.

Analyst Ratings Changes

A number of analysts have weighed in on AA shares. JPMorgan Chase & Co. increased their price objective on Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of Alcoa from a "sell" rating to a "hold" rating in a research report on Thursday, October 17th. Morgan Stanley raised their target price on shares of Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. Wolfe Research upgraded shares of Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price target on the stock in a research note on Wednesday, September 4th. Finally, UBS Group raised their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Alcoa currently has a consensus rating of "Moderate Buy" and an average price target of $44.75.

Insider Buying and Selling at Alcoa

In other Alcoa 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 value of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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.