Alcoa Co. (NYSE:AA) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 42.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,565 shares of the industrial products company's stock after selling 13,085 shares during the quarter. Intech Investment Management LLC's holdings in Alcoa were worth $678,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AA. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Alcoa by 23.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 344,147 shares of the industrial products company's stock worth $13,277,000 after purchasing an additional 65,040 shares during the period. Global Alpha Capital Management Ltd. bought a new stake in Alcoa during the 3rd quarter valued at $36,165,000. Quest Partners LLC raised its position in shares of Alcoa by 2,530,300.0% in the 3rd quarter. Quest Partners LLC now owns 25,304 shares of the industrial products company's stock worth $976,000 after acquiring an additional 25,303 shares in the last quarter. Swiss National Bank boosted its position in Alcoa by 30.5% during the third quarter. Swiss National Bank now owns 460,913 shares of the industrial products company's stock valued at $17,782,000 after purchasing an additional 107,719 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Alcoa by 35.8% during the third quarter. Mutual of America Capital Management LLC now owns 139,619 shares of the industrial products company's stock valued at $5,387,000 after buying an additional 36,812 shares during the last quarter.

Alcoa Price Performance

AA stock traded up $0.55 during mid-day trading on Friday, reaching $46.43. The company's stock had a trading volume of 1,785,249 shares, compared to its average volume of 4,613,110. 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's 50 day moving average is $41.70 and its two-hundred day moving average is $38.23. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77. The stock has a market cap of $12.00 billion, a PE ratio of -26.38, a P/E/G ratio of 0.93 and a beta of 2.42.

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 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 analyst estimates of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.14) earnings per share. Equities research analysts expect that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Announces Dividend

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

Insider Buying and Selling

In other news, EVP Renato Bacchi sold 23,867 shares of the firm's stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several research firms have issued reports on AA. B. Riley raised shares of Alcoa from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. 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. UBS Group increased 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. Wolfe Research raised shares of Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a research report on Wednesday, September 4th. Finally, Argus upgraded shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price objective for the company in a research note on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price 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.