KBC Group NV Purchases 2,037 Shares of Alcoa Co. (NYSE:AA)

KBC Group NV increased its position in shares of Alcoa Co. (NYSE:AA) by 45.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,537 shares of the industrial products company’s stock after acquiring an additional 2,037 shares during the period. KBC Group NV’s holdings in Alcoa were worth $252,000 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. Quadrature Capital Ltd bought a new stake in shares of Alcoa during the first quarter worth about $593,000. Douglas Lane & Associates LLC grew its holdings in Alcoa by 2.0% during the 3rd quarter. Douglas Lane & Associates LLC now owns 1,421,955 shares of the industrial products company’s stock worth $54,859,000 after acquiring an additional 27,217 shares during the last quarter. Aigen Investment Management LP increased its position in Alcoa by 73.0% in the 3rd quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company’s stock valued at $1,422,000 after acquiring an additional 15,546 shares during the period. U.S. Capital Wealth Advisors LLC bought a new position in shares of Alcoa during the second quarter valued at $706,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Alcoa by 43.4% during the third quarter. Van ECK Associates Corp now owns 271,276 shares of the industrial products company’s stock worth $11,361,000 after purchasing an additional 82,073 shares during the period.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Wednesday, September 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and a consensus price target of $44.75.

Insider Buying and Selling at Alcoa

In related news, EVP Renato Bacchi sold 23,867 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 57,317 shares of the company’s stock, valued at approximately $2,423,935.93. This trade represents a 29.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alcoa Price Performance

AA stock opened at $45.57 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. The company’s 50-day moving average is $39.59 and its 200-day moving average is $37.76. The stock has a market capitalization of $11.77 billion, a PE ratio of -25.89, a price-to-earnings-growth ratio of 0.84 and a beta of 2.42. Alcoa Co. has a 1 year low of $23.80 and a 1 year high of $46.55.

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

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s payout ratio is currently -22.73%.

Alcoa Company Profile

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.