Vise Technologies Inc. Purchases New Stake in Alcoa $AA

Vise Technologies Inc. acquired a new stake in shares of Alcoa (NYSE:AA) in the third quarter, HoldingsChannel.com reports. The fund acquired 16,215 shares of the industrial products company’s stock, valued at approximately $681,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AA. State of Wyoming bought a new stake in shares of Alcoa during the third quarter valued at approximately $28,000. Pinnacle Wealth Planning Services Inc. increased its holdings in Alcoa by 19.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 4,566 shares of the industrial products company’s stock valued at $192,000 after acquiring an additional 736 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in Alcoa by 275.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 31,704 shares of the industrial products company’s stock valued at $1,332,000 after acquiring an additional 23,258 shares during the last quarter. Visionary Horizons LLC bought a new stake in Alcoa in the 3rd quarter valued at $261,000. Finally, Root Financial Partners LLC purchased a new stake in Alcoa in the 3rd quarter worth $42,000.

Insider Activity at Alcoa

In related news, EVP Tammi A. Jones sold 15,628 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the completion of the sale, the executive vice president directly owned 39,819 shares in the company, valued at $2,014,841.40. This trade represents a 28.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Renato Bacchi sold 700 shares of the firm’s 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 completion of 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. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company reissued an “overweight” rating on shares of Alcoa in a report on Friday, October 16th. Argus cut Alcoa from a “buy” rating to a “hold” rating in a report on Thursday, October 22nd. B. Riley Financial reduced their target price on Alcoa from $80.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, October 20th. BMO Capital Markets decreased their target price on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. dropped their price target on Alcoa from $52.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $58.23.

Alcoa Stock Down 4.5%

Shares of NYSE:AA opened at $39.92 on Wednesday. The company has a current ratio of 2.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Alcoa has a 12 month low of $35.12 and a 12 month high of $84.38. The company has a 50-day moving average price of $43.17 and a 200 day moving average price of $55.62. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.61 and a beta of 1.83.

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

Alcoa Dividend Announcement

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

Alcoa Company Profile

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.