Sendero Wealth Management LLC Grows Holdings in Alcoa Co. (NYSE:AA)

Sendero Wealth Management LLC grew its stake in shares of Alcoa Co. (NYSE:AA) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,871 shares of the industrial products company’s stock after buying an additional 1,320 shares during the quarter. Sendero Wealth Management LLC’s holdings in Alcoa were worth $713,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Retirement Systems of Alabama raised its position in Alcoa by 41.6% during the third quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company’s stock valued at $12,107,000 after purchasing an additional 92,201 shares in the last quarter. ING Groep NV bought a new position in shares of Alcoa during the 3rd quarter valued at about $10,201,000. Douglas Lane & Associates LLC raised its holdings in shares of 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 valued at $54,859,000 after buying an additional 27,217 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Alcoa by 6.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company’s stock worth $24,233,000 after buying an additional 36,869 shares during the last quarter. Finally, Aigen Investment Management LP grew its position in Alcoa by 73.0% during the third 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 last quarter. 82.39% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Renato Bacchi sold 23,867 shares of the 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 sale, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.08% of the stock is currently owned by insiders.

Alcoa Trading Up 3.6 %

NYSE AA opened at $38.19 on Thursday. The stock has a market cap of $9.87 billion, a P/E ratio of -21.70, a price-to-earnings-growth ratio of 0.79 and a beta of 2.47. Alcoa Co. has a fifty-two week low of $24.86 and a fifty-two week high of $47.77. The stock has a 50 day simple moving average of $41.09 and a two-hundred day simple moving average of $37.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.14) EPS. On average, analysts forecast that Alcoa Co. will post 0.9 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AA shares. BMO Capital Markets boosted their price objective on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a report on Thursday, October 17th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Wednesday, October 23rd. B. Riley raised Alcoa from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Finally, UBS Group increased their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa currently has an average rating of “Moderate Buy” and a consensus price target of $46.45.

Alcoa 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.