Alcoa Co. (NYSE:AA) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its position in shares of Alcoa Co. (NYSE:AA) by 73.5% in the third quarter, HoldingsChannel.com reports. The firm owned 8,372 shares of the industrial products company’s stock after selling 23,257 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Alcoa were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AA. Newbridge Financial Services Group Inc. purchased a new stake in Alcoa in the second quarter valued at $27,000. UMB Bank n.a. lifted its position in Alcoa by 481.7% in the third quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 631 shares during the last quarter. Toronto Dominion Bank lifted its position in Alcoa by 1,501.9% in the first quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares during the last quarter. Fifth Third Bancorp lifted its position in Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 309 shares during the last quarter. Finally, William B. Walkup & Associates Inc. purchased a new stake in Alcoa in the second quarter valued at $102,000.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AA shares. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Wednesday, September 4th. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Morgan Stanley upped their target price on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, UBS Group upped their target price on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Alcoa has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Insiders Place Their Bets

In other news, EVP Renato Bacchi sold 23,867 shares of the 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 sale, the executive vice president now directly owns 57,317 shares in the company, valued at $2,423,935.93. This represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Alcoa Trading Up 6.8 %

Shares of AA opened at $44.02 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The firm’s 50-day moving average is $38.94 and its two-hundred day moving average is $37.65. Alcoa Co. has a twelve month low of $23.80 and a twelve month high of $46.55. The firm has a market capitalization of $11.37 billion, a P/E ratio of -25.01, a PEG ratio of 0.84 and a beta of 2.42.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping 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 period in the prior year, the business posted ($1.14) earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, research analysts predict that Alcoa Co. will post 0.89 earnings per share for the current fiscal year.

Alcoa Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.91%. Alcoa’s payout ratio is currently -22.73%.

Alcoa Company 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.