Regal Partners Ltd Purchases 350,237 Shares of Alcoa Co. (NYSE:AA)

Regal Partners Ltd grew its position in shares of Alcoa Co. (NYSE:AA - Free Report) by 5,745.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 356,333 shares of the industrial products company's stock after purchasing an additional 350,237 shares during the quarter. Alcoa makes up 1.2% of Regal Partners Ltd's holdings, making the stock its 21st biggest holding. Regal Partners Ltd owned approximately 0.14% of Alcoa worth $13,747,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp boosted its stake 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 valued at $94,000 after purchasing an additional 309 shares in the last quarter. Blue Trust Inc. raised its position in shares of Alcoa by 12.0% during the third quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company's stock worth $128,000 after acquiring an additional 344 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Alcoa by 1.4% during the second quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company's stock worth $1,073,000 after acquiring an additional 368 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of Alcoa by 15.3% during the third quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company's stock worth $133,000 after acquiring an additional 459 shares during the last quarter. Finally, Eads & Heald Wealth Management raised its position in shares of Alcoa by 6.6% during the third quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company's stock worth $324,000 after acquiring an additional 517 shares during the last quarter.

Alcoa Stock Up 1.6 %

Shares of NYSE AA traded up $0.63 during midday trading on Thursday, hitting $41.22. 4,502,526 shares of the stock traded hands, compared to its average volume of 5,849,080. The company has a market cap of $10.65 billion, a PE ratio of -23.42, a P/E/G ratio of 0.78 and a beta of 2.42. Alcoa Co. has a one year low of $23.80 and a one year high of $46.55. The business has a 50 day moving average price of $38.63 and a two-hundred day moving average price of $37.56. 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 EPS for the quarter, beating the consensus estimate 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 return on equity of 1.45% and a negative net margin of 2.65%. The company's quarterly 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. On average, equities analysts predict that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.97%. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AA. BMO Capital Markets raised their price objective on Alcoa from $42.00 to $45.00 and gave the stock a "market perform" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. raised 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. UBS Group raised their price objective on Alcoa from $40.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, October 15th. B. Riley upgraded Alcoa from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. Finally, Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective for the company in a research report on Wednesday, September 4th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $44.75.

Insider Buying and Selling at Alcoa

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 transaction of $1,009,335.43. Following the completion of the transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.