Vise Technologies Inc. Makes New Investment in Alcoa $AA

Vise Technologies Inc. bought a new stake in Alcoa (NYSE:AA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,215 shares of the industrial products company’s stock, valued at approximately $681,000.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Argus cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Thursday, October 22nd. B. Riley Financial reduced their price objective on Alcoa from $80.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. DA Davidson set a $62.00 target price on Alcoa in a report on Tuesday, October 20th. JPMorgan Chase & Co. decreased their target price on Alcoa from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Finally, Freedom Broker lowered their target price on Alcoa from $76.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $58.23.

Alcoa Price Performance

NYSE AA opened at $39.92 on Wednesday. Alcoa has a 12 month low of $35.12 and a 12 month high of $84.38. The stock 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. The company’s 50 day moving average is $43.17 and its two-hundred day moving average is $55.62. 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 (NYSE:AA) last posted its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.31. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. The company’s revenue was up 23.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, research analysts anticipate that Alcoa will post 6.70 earnings per share for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Tuesday, October 27th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, October 27th. Alcoa’s dividend payout ratio (DPR) is presently 6.91%.

Insiders Place Their Bets

In related news, EVP Renato Bacchi sold 700 shares of Alcoa stock in a transaction 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 in the company, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Tammi Jones sold 15,628 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $50.60, for a total transaction of $790,776.80. Following the completion of the transaction, the executive vice president directly owned 39,819 shares of the company’s stock, valued at $2,014,841.40. This represents a 28.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Alcoa 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.