Alcoa Co. (NYSE:AA) is Paloma Partners Management Co's 2nd Largest Position

Paloma Partners Management Co boosted its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 11,317.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,427,799 shares of the industrial products company's stock after buying an additional 1,415,294 shares during the quarter. Alcoa accounts for approximately 1.5% of Paloma Partners Management Co's portfolio, making the stock its 2nd largest holding. Paloma Partners Management Co owned 0.55% of Alcoa worth $55,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Comerica Bank boosted its position in Alcoa by 74.4% during the first quarter. Comerica Bank now owns 134,705 shares of the industrial products company's stock worth $4,552,000 after acquiring an additional 57,484 shares during the last quarter. Cetera Advisors LLC boosted its position in Alcoa by 24.0% during the first quarter. Cetera Advisors LLC now owns 10,831 shares of the industrial products company's stock worth $366,000 after acquiring an additional 2,096 shares during the last quarter. CWM LLC boosted its position in Alcoa by 19.5% during the second quarter. CWM LLC now owns 3,651 shares of the industrial products company's stock worth $145,000 after acquiring an additional 596 shares during the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Alcoa during the second quarter worth approximately $706,000. Finally, QRG Capital Management Inc. acquired a new stake in Alcoa during the second quarter worth approximately $255,000.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction on Tuesday, October 22nd. The stock was 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 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 this link.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. UBS Group raised their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. Morgan Stanley upped their price target on Alcoa from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price for the company in a report on Wednesday, September 4th. Finally, Argus raised shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 target price for the company in a research report on Wednesday, October 23rd. Five equities research 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.25.

Alcoa Stock Down 2.0 %

Shares of Alcoa stock traded down $0.91 on Monday, hitting $45.52. 2,208,557 shares of the company's stock traded hands, compared to its average volume of 5,776,877. The stock has a market cap of $11.76 billion, a P/E ratio of -26.44, a PEG ratio of 0.93 and a beta of 2.42. 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 firm's 50-day moving average is $41.70 and its 200 day moving average is $38.22. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.14) earnings per share. Equities analysts anticipate that Alcoa Co. will post 0.9 earnings per share for the current year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Tuesday, October 29th. Alcoa's dividend payout ratio is presently -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.