Van ECK Associates Corp Has $11.36 Million Holdings in Alcoa Co. (NYSE:AA)

Van ECK Associates Corp raised its stake in shares of Alcoa Co. (NYSE:AA - Free Report) by 43.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,276 shares of the industrial products company's stock after acquiring an additional 82,073 shares during the quarter. Van ECK Associates Corp owned approximately 0.15% of Alcoa worth $11,361,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Fifth Third Bancorp lifted its position in shares of Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock worth $94,000 after buying an additional 309 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Alcoa by 12.0% in the 3rd quarter. Blue Trust Inc. now owns 3,222 shares of the industrial products company's stock worth $128,000 after buying an additional 344 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Alcoa by 1.4% in the 2nd quarter. Pacer Advisors Inc. now owns 26,965 shares of the industrial products company's stock worth $1,073,000 after buying an additional 368 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Alcoa by 15.3% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company's stock worth $133,000 after buying an additional 459 shares during the last quarter. Finally, Eads & Heald Wealth Management lifted its position in shares of Alcoa by 6.6% in the 3rd quarter. Eads & Heald Wealth Management now owns 8,403 shares of the industrial products company's stock worth $324,000 after buying an additional 517 shares during the last quarter.

Insider Activity

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 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 of the company's stock, valued at $2,423,935.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alcoa Stock Performance

AA traded up $2.57 during trading on Wednesday, reaching $45.35. 9,630,027 shares of the company's stock were exchanged, compared to its average volume of 5,884,839. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.03. 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 business has a 50 day moving average price of $36.99 and a 200 day moving average price of $37.24. The company has a market capitalization of $11.72 billion, a P/E ratio of -24.31, a PEG ratio of 0.77 and a beta of 2.42.

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, topping the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion for 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 quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.14) EPS. As a group, analysts predict that Alcoa Co. will post 0.89 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

Analyst Ratings Changes

AA has been the topic of a number of recent research reports. Argus upgraded shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Wolfe Research raised shares of Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a research note on Wednesday, September 4th. B. Riley Financial reaffirmed a "neutral" rating and issued a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Finally, Bank of America upgraded shares of Alcoa from a "neutral" rating to a "buy" rating and raised their target price for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $44.75.

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.