20,220 Shares in Alcoa $AA Purchased by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP purchased a new stake in Alcoa (NYSE:AA) in the 3rd quarter, HoldingsChannel reports. The fund purchased 20,220 shares of the industrial products company’s stock, valued at approximately $849,000.

Several other hedge funds have also made changes to their positions in AA. Allspring Global Investments Holdings LLC raised its stake in Alcoa by 15.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,888 shares of the industrial products company’s stock valued at $2,561,000 after purchasing an additional 8,174 shares during the period. Balentine LLC lifted its holdings in shares of Alcoa by 3.3% in the third quarter. Balentine LLC now owns 8,736 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 278 shares in the last quarter. Heritage Family Offices LLP purchased a new stake in shares of Alcoa in the third quarter valued at $34,000. Kestra Advisory Services LLC boosted its position in shares of Alcoa by 3.8% in the third quarter. Kestra Advisory Services LLC now owns 27,195 shares of the industrial products company’s stock worth $1,142,000 after buying an additional 1,005 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of Alcoa by 22.9% in the third quarter. Commonwealth Equity Services LLC now owns 57,918 shares of the industrial products company’s stock worth $2,433,000 after buying an additional 10,782 shares during the period.

Insiders Place Their Bets

In related news, EVP Tammi Jones sold 15,628 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the sale, the executive vice president directly owned 39,819 shares in the company, valued at approximately $2,014,841.40. This trade represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Renato Bacchi sold 700 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $51.02, for a total value of $35,714.00. Following the sale, the executive vice president owned 74,930 shares of the company’s stock, valued at approximately $3,822,928.60. This represents a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Alcoa Stock Down 1.4%

Alcoa stock opened at $40.48 on Friday. The firm has a market cap of $10.69 billion, a PE ratio of 6.99, a P/E/G ratio of 0.60 and a beta of 1.83. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.31. The firm’s 50 day moving average price is $42.77 and its two-hundred day moving average price is $55.42. Alcoa has a twelve month low of $35.12 and a twelve month high of $84.38.

Alcoa (NYSE:AA) last released its earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The company had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The company’s revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, research analysts predict that Alcoa will post 6.70 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 27th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. Alcoa’s dividend payout ratio is 6.91%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AA shares. Morgan Stanley lowered their price target on Alcoa from $53.00 to $50.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 7th. Zacks Research raised Alcoa from a “strong sell” rating to a “hold” rating in a research report on Monday, September 14th. Freedom Broker reduced their price objective on Alcoa from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Citigroup decreased their price objective on Alcoa from $76.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. Finally, B. Riley Financial decreased their price objective on Alcoa from $80.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alcoa has a consensus rating of “Hold” and an average target price of $58.23.

About Alcoa

Alcoa Corporation is an integrated aluminum company involved in bauxite mining, alumina refining and primary aluminum production. Its products include bauxite, alumina and aluminum in forms used by customers across industries such as transportation, packaging, construction and consumer goods. The company operates internationally, with activities spanning North America, South America, Europe and Australia. Its business connects raw-material production with refining and smelting, serving customers in markets around the world.