Alcoa $AA Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC raised its stake in shares of Alcoa (NYSE:AA) by 33.2% during the third quarter, HoldingsChannel reports. The fund owned 1,783,280 shares of the industrial products company’s stock after acquiring an additional 444,980 shares during the quarter. Voya Investment Management LLC’s holdings in Alcoa were worth $58,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AA. IFP Advisors Inc lifted its position in shares of Alcoa by 1,096.0% during the second quarter. IFP Advisors Inc now owns 897 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 822 shares during the last quarter. Horrell Capital Management Inc. bought a new stake in Alcoa during the second quarter valued at $30,000. Heartwood Wealth Advisors LLC bought a new stake in shares of Alcoa during the 3rd quarter valued at about $53,000. Quarry LP acquired a new position in Alcoa in the first quarter valued at approximately $57,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Alcoa by 173.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,040 shares of the industrial products company’s stock worth $60,000 after purchasing an additional 1,295 shares during the last quarter.

Analyst Upgrades and Downgrades

AA has been the topic of several recent research reports. B. Riley lifted their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Wells Fargo & Company initiated coverage on Alcoa in a research report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 price target for the company. HSBC increased their price target on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $52.00 price objective on shares of Alcoa in a report on Monday. Finally, UBS Group boosted their price target on shares of Alcoa from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.77.

Alcoa Trading Up 6.5%

Shares of NYSE AA opened at $51.30 on Friday. The business has a fifty day simple moving average of $40.04 and a 200-day simple moving average of $34.08. The company has a market cap of $13.29 billion, a price-to-earnings ratio of 11.85, a P/E/G ratio of 0.24 and a beta of 1.99. Alcoa has a 12 month low of $21.53 and a 12 month high of $51.67. The company has a quick ratio of 0.91, a current ratio of 1.56 and a debt-to-equity ratio of 0.40.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 22nd. The industrial products company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.13. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period last year, the company posted $0.57 earnings per share. Sell-side analysts predict that Alcoa will post 4.43 EPS for the current year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s payout ratio is 9.24%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.