Nwam LLC Acquires Shares of 7,539 Alcoa Co. (NYSE:AA)

Nwam LLC bought a new position in Alcoa Co. (NYSE:AA) in the third quarter, HoldingsChannel.com reports. The fund bought 7,539 shares of the industrial products company’s stock, valued at approximately $291,000.

A number of other hedge funds have also modified their holdings of the stock. Newbridge Financial Services Group Inc. bought a new stake in Alcoa in the second quarter valued at $27,000. UMB Bank n.a. grew its holdings in shares of Alcoa by 481.7% in the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 631 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,592 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 309 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new position in Alcoa in the second quarter valued at about $102,000. 82.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on AA shares. JPMorgan Chase & Co. raised 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. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Wednesday, October 23rd. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $43.00 to $52.00 in a research note on Tuesday, October 1st. UBS Group lifted their price target on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, B. Riley raised shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $41.00 to $50.00 in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Insiders Place Their Bets

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction 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 approximately $2,423,935.93. This trade represents a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.08% of the company’s stock.

Alcoa Stock Up 3.9 %

Shares of NYSE AA opened at $47.24 on Tuesday. 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 has a market capitalization of $12.20 billion, a PE ratio of -26.84, a price-to-earnings-growth ratio of 0.87 and a beta of 2.42. The firm’s 50-day moving average is $40.73 and its 200-day moving average is $38.02. Alcoa Co. has a 1 year low of $23.80 and a 1 year high of $47.44.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.14) EPS. Equities analysts expect that Alcoa Co. will post 0.89 EPS for the current year.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s payout ratio is -22.73%.

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.