Alcoa $AA Stock Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. grew its position in shares of Alcoa (NYSE:AA) by 275.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,704 shares of the industrial products company’s stock after buying an additional 23,258 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Alcoa were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Alcoa during the 2nd quarter worth $1,528,523,000. Bank of New York Mellon Corp bought a new position in shares of Alcoa during the 2nd quarter worth about $166,194,000. Amundi boosted its holdings in Alcoa by 47.8% during the first quarter. Amundi now owns 2,009,013 shares of the industrial products company’s stock valued at $133,258,000 after purchasing an additional 649,693 shares in the last quarter. Maple Rock Capital Partners Inc. grew its position in Alcoa by 74.7% in the second quarter. Maple Rock Capital Partners Inc. now owns 1,577,720 shares of the industrial products company’s stock valued at $82,262,000 after acquiring an additional 674,400 shares during the period. Finally, Nykredit A S bought a new position in shares of Alcoa during the second quarter valued at $74,407,000.

Analysts Set New Price Targets

A number of research firms recently commented on AA. JPMorgan Chase & Co. decreased their price target on Alcoa from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Alcoa in a research note on Monday, September 14th. B. Riley Financial reduced their price objective on Alcoa from $80.00 to $63.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Citigroup lowered their target price on Alcoa from $76.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Finally, Freedom Broker lowered their target price on Alcoa from $76.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Six 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 data from MarketBeat.com, Alcoa has an average rating of “Hold” and an average price target of $58.23.

Insiders Place Their Bets

In related news, EVP Tammi 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 transaction, the executive vice president 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Renato Bacchi sold 700 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $51.02, for a total transaction of $35,714.00. Following the transaction, 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 Performance

Shares of NYSE AA opened at $39.13 on Monday. The stock has a market capitalization of $10.33 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 0.58 and a beta of 1.83. Alcoa has a 52 week low of $35.12 and a 52 week high of $84.38. The stock has a 50 day moving average price of $44.66 and a 200 day moving average price of $56.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.31.

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

Alcoa Announces Dividend

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

Alcoa Company Profile

Alcoa Corporation (NYSE:AA) is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.

The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.