Janus Henderson Group PLC Grows Holdings in Alcoa Co. (NYSE:AA)

Janus Henderson Group PLC grew its holdings in Alcoa Co. (NYSE:AA - Free Report) by 318.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 349,341 shares of the industrial products company's stock after purchasing an additional 265,941 shares during the period. Janus Henderson Group PLC owned about 0.14% of Alcoa worth $13,479,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new position in shares of Alcoa in the second quarter worth about $93,061,000. Paloma Partners Management Co lifted its holdings in Alcoa by 11,317.8% in the 3rd quarter. Paloma Partners Management Co now owns 1,427,799 shares of the industrial products company's stock worth $55,084,000 after purchasing an additional 1,415,294 shares in the last quarter. Marshall Wace LLP boosted its stake in Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company's stock worth $56,599,000 after purchasing an additional 1,259,430 shares during the period. Global Alpha Capital Management Ltd. bought a new stake in shares of Alcoa during the third quarter valued at approximately $36,165,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alcoa by 32.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,888,590 shares of the industrial products company's stock worth $72,862,000 after buying an additional 467,986 shares in the last quarter.

Insider Transactions at Alcoa

In related 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 transaction 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. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

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

Alcoa Stock Performance

Alcoa stock traded down $0.51 during mid-day trading on Monday, reaching $41.98. 6,187,058 shares of the company traded hands, compared to its average volume of 5,762,150. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $47.77. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of -23.85, a price-to-earnings-growth ratio of 0.85 and a beta of 2.44. The firm's fifty day moving average is $42.58 and its two-hundred day moving average is $38.34.

Alcoa (NYSE:AA - Get Free Report) last issued 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 business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the business posted ($1.14) EPS. Alcoa's revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Alcoa's payout ratio is currently -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.