Daiwa Securities Group Inc. Has $1.39 Million Stake in Alcoa Co. (NYSE:AA)

Daiwa Securities Group Inc. lifted its stake in Alcoa Co. (NYSE:AA) by 71.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,900 shares of the industrial products company’s stock after acquiring an additional 15,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Alcoa were worth $1,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC lifted its position in Alcoa by 5.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 10,019 shares of the industrial products company’s stock worth $387,000 after acquiring an additional 530 shares during the last quarter. Algert Global LLC lifted its position in shares of Alcoa by 101.3% during the 3rd quarter. Algert Global LLC now owns 246,098 shares of the industrial products company’s stock worth $9,494,000 after purchasing an additional 123,867 shares during the last quarter. Cerity Partners LLC boosted its stake in Alcoa by 64.9% during the 3rd quarter. Cerity Partners LLC now owns 26,206 shares of the industrial products company’s stock valued at $1,011,000 after purchasing an additional 10,314 shares during the period. Great Valley Advisor Group Inc. grew its holdings in Alcoa by 32.0% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 16,135 shares of the industrial products company’s stock valued at $622,000 after buying an additional 3,910 shares during the last quarter. Finally, Nwam LLC bought a new position in Alcoa in the 3rd quarter worth approximately $291,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Alcoa

In other Alcoa 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 transaction of $1,009,335.43. Following the sale, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.08% of the company’s stock.

Alcoa Stock Performance

Alcoa stock opened at $46.45 on Friday. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $47.77. 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 stock has a fifty day moving average price of $41.44 and a two-hundred day moving average price of $38.20. The firm has a market capitalization of $12.00 billion, a P/E ratio of -26.38, a P/E/G ratio of 0.92 and a beta of 2.42.

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, beating the consensus estimate of $0.23 by $0.34. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted ($1.14) EPS. As a group, analysts anticipate that Alcoa Co. will post 0.9 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, October 29th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.86%. Alcoa’s dividend payout ratio is -22.73%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AA shares. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Morgan Stanley boosted their price objective on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group boosted their price target on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets raised their price objective on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $45.25.

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.