ING Groep NV Invests $10.20 Million in Alcoa Co. (NYSE:AA)

ING Groep NV 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 264,400 shares of the industrial products company's stock, valued at approximately $10,201,000. ING Groep NV owned approximately 0.10% of Alcoa at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new stake in shares of Alcoa in the second quarter valued at about $27,000. UMB Bank n.a. increased its stake 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 buying an additional 631 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Alcoa by 1,501.9% during the 1st 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 in the last quarter. Fifth Third Bancorp boosted its stake in shares of 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 buying an additional 309 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Alcoa in the first quarter valued at approximately $101,000.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AA shares. StockNews.com upgraded Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wolfe Research upgraded shares of Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. UBS Group boosted their target price 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. Finally, B. Riley Financial restated a "neutral" rating and set a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $44.75.

Alcoa Stock Performance

Alcoa stock traded up $2.81 during mid-day trading on Friday, reaching $44.02. The company's stock had a trading volume of 11,258,637 shares, compared to its average volume of 5,873,459. The company has a market capitalization of $11.37 billion, a P/E ratio of -25.01, a PEG ratio of 0.77 and a beta of 2.42. The firm's fifty day moving average price is $38.94 and its two-hundred day moving average price is $37.60. Alcoa Co. has a 12-month low of $23.80 and a 12-month high of $46.55. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data 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 return on equity of 1.45% and a negative net margin of 2.65%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the company posted ($1.14) EPS. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.91%. The ex-dividend date is Tuesday, October 29th. Alcoa's dividend payout ratio is -22.73%.

Insiders Place Their Bets

In related news, EVP Renato Bacchi sold 23,867 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 57,317 shares of the company's stock, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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.