Alcoa Co. (NYSE:AA) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Alcoa Co. (NYSE:AA - Free Report) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 628,116 shares of the industrial products company's stock after acquiring an additional 36,869 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.24% of Alcoa worth $24,233,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AA. ING Groep NV acquired a new stake in shares of Alcoa during the 3rd quarter worth approximately $10,201,000. Douglas Lane & Associates LLC raised its position in shares of Alcoa by 2.0% in the third quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company's stock worth $54,859,000 after acquiring an additional 27,217 shares during the period. Aigen Investment Management LP boosted its stake in shares of Alcoa by 73.0% during the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company's stock worth $1,422,000 after acquiring an additional 15,546 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of Alcoa during the 2nd quarter valued at about $706,000. Finally, Van ECK Associates Corp increased its stake in shares of Alcoa by 43.4% in the 3rd quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company's stock valued at $11,361,000 after purchasing an additional 82,073 shares in the last quarter. Hedge funds and other institutional investors own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

AA has been the topic of several research analyst reports. BMO Capital Markets raised their price objective on Alcoa from $42.00 to $45.00 and gave the company a "market perform" rating in a report on Thursday, October 17th. B. Riley raised shares of Alcoa from a "neutral" rating to a "buy" rating and lifted their price target for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. 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. Wolfe Research raised shares of Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.25.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of the company's 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 transaction, the executive vice president now owns 57,317 shares of the company's stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.08% of the company's stock.

Alcoa Price Performance

Shares of AA stock traded down $3.68 during trading hours on Friday, reaching $42.49. The company had a trading volume of 9,525,389 shares, compared to its average volume of 5,760,929. Alcoa Co. has a 12-month low of $23.80 and a 12-month high of $47.77. The company has a market capitalization of $10.98 billion, a price-to-earnings ratio of -24.14, a PEG ratio of 0.92 and a beta of 2.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The stock has a fifty day moving average of $42.44 and a 200-day moving average of $38.40.

Alcoa (NYSE:AA - Get Free Report) last issued 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. The business 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 revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned ($1.14) EPS. On average, equities analysts anticipate that Alcoa Co. will post 0.9 earnings per share for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were issued a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.94%. Alcoa's payout ratio is -22.73%.

Alcoa Profile

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.