Swiss National Bank grew its stake in shares of Alcoa Co. (NYSE:AA) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 412,594 shares of the industrial products company’s stock after acquiring an additional 2,100 shares during the period. Swiss National Bank’s holdings in Alcoa were worth $20,192,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Jacobi Capital Management LLC increased its holdings in Alcoa by 12.1% during the second quarter. Jacobi Capital Management LLC now owns 2,125 shares of the industrial products company’s stock valued at $78,000 after buying an additional 230 shares during the period. Allworth Financial LP increased its holdings in Alcoa by 78.0% during the third quarter. Allworth Financial LP now owns 543 shares of the industrial products company’s stock valued at $27,000 after buying an additional 238 shares during the period. TCI Wealth Advisors Inc. increased its holdings in Alcoa by 81.1% during the third quarter. TCI Wealth Advisors Inc. now owns 538 shares of the industrial products company’s stock valued at $26,000 after buying an additional 241 shares during the period. NEXT Financial Group Inc increased its holdings in Alcoa by 7.2% during the third quarter. NEXT Financial Group Inc now owns 3,765 shares of the industrial products company’s stock valued at $184,000 after buying an additional 253 shares during the period. Finally, Eads & Heald Wealth Management increased its holdings in Alcoa by 1.3% during the third quarter. Eads & Heald Wealth Management now owns 25,788 shares of the industrial products company’s stock valued at $1,262,000 after buying an additional 320 shares during the period.
In other Alcoa news, CFO William F. Oplinger sold 166,369 shares of the stock in a transaction on Tuesday, November 16th. The shares were sold at an average price of $48.40, for a total transaction of $8,052,259.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Several research firms have issued reports on AA. B. Riley lifted their price target on shares of Alcoa from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, October 15th. JPMorgan Chase & Co. lifted their price target on shares of Alcoa from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, October 5th. Credit Suisse Group boosted their price objective on shares of Alcoa from $51.00 to $56.00 and gave the company an “outperform” rating in a report on Tuesday, September 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alcoa from $48.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, September 16th. Finally, Jefferies Financial Group raised shares of Alcoa from a “hold” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $60.00 in a report on Tuesday, November 2nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $56.25.
NYSE AA opened at $61.54 on Tuesday. The company has a fifty day moving average of $51.81 and a 200 day moving average of $46.43. The company has a market capitalization of $11.51 billion, a PE ratio of 14.31 and a beta of 2.45. Alcoa Co. has a 1 year low of $17.30 and a 1 year high of $62.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.46 and a quick ratio of 0.88.
Alcoa (NYSE:AA) last released its quarterly earnings results on Thursday, October 14th. The industrial products company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.25. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Alcoa had a net margin of 7.29% and a return on equity of 16.78%. The firm’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) EPS. Research analysts expect that Alcoa Co. will post 6.28 earnings per share for the current year.
Alcoa announced that its board has initiated a stock buyback program on Thursday, October 14th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Friday, October 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.65%. This is an increase from Alcoa’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, October 28th. Alcoa’s dividend payout ratio (DPR) is presently 9.30%.
Alcoa Company Profile
Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.
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