Weiss Asset Management LP Purchases New Holdings in Alcoa Co. (NYSE:AA)

Weiss Asset Management LP bought a new position in Alcoa Co. (NYSE:AA - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,220 shares of the industrial products company's stock, valued at approximately $1,050,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AA. Temasek Holdings Private Ltd bought a new position in shares of Alcoa during the 3rd quarter valued at approximately $13,481,000. State Street Corp grew its position in shares of Alcoa by 23.3% during the 3rd quarter. State Street Corp now owns 9,563,645 shares of the industrial products company's stock valued at $368,965,000 after acquiring an additional 1,805,915 shares during the period. Quantinno Capital Management LP bought a new position in shares of Alcoa during the 3rd quarter valued at approximately $253,000. Quarry LP bought a new position in shares of Alcoa during the 3rd quarter valued at approximately $43,000. Finally, Millburn Ridgefield Corp bought a new position in Alcoa in the 3rd quarter worth approximately $89,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AA. Bank of America raised their price objective on shares of Alcoa to $58.00 and gave the stock a "buy" rating in a report on Thursday, November 28th. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. Wolfe Research upgraded 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. Argus upgraded shares of Alcoa from a "hold" rating to a "buy" rating and set a $48.00 target price on the stock in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.73.

Alcoa Stock Down 1.2 %

Shares of AA stock traded down $0.51 on Monday, hitting $41.98. 6,187,058 shares of the company's stock traded hands, compared to its average volume of 5,762,150. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa Co. has a one year low of $23.80 and a one year high of $47.77. The company's fifty day simple moving average is $42.51 and its 200 day simple moving average is $38.33.

Alcoa (NYSE:AA - Get Free Report) last released its earnings results 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. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the firm earned ($1.14) EPS. The firm's quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts forecast that Alcoa Co. will post 0.9 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared 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 0.95%. The ex-dividend date was Tuesday, October 29th. Alcoa's dividend payout ratio (DPR) is presently -22.73%.

Insiders Place Their Bets

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now owns 57,317 shares of the company's stock, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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.