Temasek Holdings Private Ltd Takes $13.48 Million Position in Alcoa Co. (NYSE:AA)

Temasek Holdings Private Ltd purchased a new stake in shares of Alcoa Co. (NYSE:AA - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 349,430 shares of the industrial products company's stock, valued at approximately $13,481,000. Temasek Holdings Private Ltd owned approximately 0.14% of Alcoa as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. ING Groep NV bought a new position in Alcoa during the third quarter valued at about $10,201,000. Douglas Lane & Associates LLC raised its position in shares of Alcoa by 2.0% during the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company's stock valued at $54,859,000 after buying an additional 27,217 shares during the last quarter. Aigen Investment Management LP increased its stake in shares of Alcoa by 73.0% in the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company's stock valued at $1,422,000 after buying an additional 15,546 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new position in Alcoa during the 2nd quarter worth about $706,000. Finally, Van ECK Associates Corp grew its holdings in Alcoa by 43.4% during the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company's stock worth $11,361,000 after acquiring an additional 82,073 shares during the last quarter.

Insider Transactions at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the company'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 directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alcoa Stock Performance

Shares of AA stock traded down $3.50 during trading on Friday, reaching $42.67. 6,031,318 shares of the company's stock were exchanged, compared to its average volume of 5,745,677. Alcoa Co. has a twelve month low of $23.80 and a twelve month high of $47.77. The firm's fifty day moving average price is $42.44 and its 200-day moving average price is $38.40. 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 stock has a market capitalization of $11.02 billion, a PE ratio of -24.25, a PEG ratio of 0.92 and a beta of 2.44.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping 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 firm 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. The business's revenue was up 11.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alcoa Co. will post 0.9 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a dividend of $0.10 per share. 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 0.94%. Alcoa's payout ratio is presently -22.73%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. B. Riley upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $41.00 to $50.00 in a research report on Thursday, October 17th. UBS Group upped their price target on Alcoa from $40.00 to $50.00 and gave the company a "buy" rating in a research note on Tuesday, October 15th. B. Riley Financial reiterated a "neutral" rating and issued a $41.00 price objective on shares of Alcoa in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Finally, Morgan Stanley increased their price objective on shares of Alcoa from $48.00 to $49.00 and gave the company an "overweight" rating in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Alcoa has an average rating of "Moderate Buy" and a consensus 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.