River Global Investors LLP Purchases 24,278 Shares of Alcoa Co. (NYSE:AA)

River Global Investors LLP boosted its position in shares of Alcoa Co. (NYSE:AA) by 130.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 42,938 shares of the industrial products company’s stock after purchasing an additional 24,278 shares during the quarter. River Global Investors LLP’s holdings in Alcoa were worth $1,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AA. Raymond James & Associates raised its holdings in Alcoa by 2.5% in the 3rd quarter. Raymond James & Associates now owns 20,874 shares of the industrial products company’s stock worth $607,000 after acquiring an additional 501 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Alcoa by 12.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 38,317 shares of the industrial products company’s stock worth $1,113,000 after buying an additional 4,272 shares in the last quarter. Zenyatta Capital Management LP raised its position in Alcoa by 75.0% in the 3rd quarter. Zenyatta Capital Management LP now owns 350,000 shares of the industrial products company’s stock worth $10,171,000 after buying an additional 150,000 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Alcoa by 9.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 939,128 shares of the industrial products company’s stock valued at $27,291,000 after acquiring an additional 80,916 shares during the period. Finally, Carmel Capital Partners LLC grew its stake in shares of Alcoa by 3.2% in the third quarter. Carmel Capital Partners LLC now owns 42,305 shares of the industrial products company’s stock worth $1,229,000 after acquiring an additional 1,323 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have commented on AA shares. B. Riley lifted their target price on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th. UBS Group boosted their price target on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday, April 19th. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Jefferies Financial Group raised their price objective on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Bank of America upped their target price on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa has an average rating of “Hold” and a consensus price target of $33.54.

Insider Transactions at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alcoa Price Performance

NYSE AA traded up $0.83 during trading hours on Friday, reaching $36.77. The company’s stock had a trading volume of 5,496,634 shares, compared to its average volume of 6,977,672. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. Alcoa Co. has a 1 year low of $23.07 and a 1 year high of $38.20. The firm’s 50-day moving average price is $32.93 and its 200-day moving average price is $29.69. The company has a market capitalization of $6.60 billion, a price-to-earnings ratio of -9.78, a PEG ratio of 3.77 and a beta of 2.45.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19). The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.23) earnings per share. On average, equities research analysts predict that Alcoa Co. will post 0.2 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.09%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

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.