Eads & Heald Wealth Management Acquires 517 Shares of Alcoa Co. (NYSE:AA)

Eads & Heald Wealth Management boosted its position in shares of Alcoa Co. (NYSE:AA) by 6.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,403 shares of the industrial products company’s stock after buying an additional 517 shares during the period. Eads & Heald Wealth Management’s holdings in Alcoa were worth $324,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. New York State Common Retirement Fund grew its stake in Alcoa by 3.4% during the third quarter. New York State Common Retirement Fund now owns 439,333 shares of the industrial products company’s stock worth $16,949,000 after buying an additional 14,400 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in Alcoa by 15.3% during the third quarter. Rosenberg Matthew Hamilton now owns 3,452 shares of the industrial products company’s stock worth $133,000 after buying an additional 459 shares in the last quarter. US Bancorp DE grew its stake in Alcoa by 14.3% during the third quarter. US Bancorp DE now owns 10,482 shares of the industrial products company’s stock worth $404,000 after buying an additional 1,310 shares in the last quarter. New York State Teachers Retirement System grew its stake in Alcoa by 6.7% during the third quarter. New York State Teachers Retirement System now owns 164,157 shares of the industrial products company’s stock worth $6,333,000 after buying an additional 10,257 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Alcoa by 44.8% during the third quarter. Nisa Investment Advisors LLC now owns 16,642 shares of the industrial products company’s stock worth $642,000 after buying an additional 5,147 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AA shares. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and raised their price target for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. raised their price target 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. BMO Capital Markets raised their price target on shares of Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley raised their price target on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Alcoa currently has a consensus rating of “Moderate Buy” and an average price target of $44.75.

Alcoa Stock Up 1.2 %

Alcoa stock opened at $40.59 on Friday. 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 Co. has a 52-week low of $23.80 and a 52-week high of $45.48. The firm has a 50 day moving average price of $36.69 and a two-hundred day moving average price of $37.13. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of -23.06, a PEG ratio of 0.93 and a beta of 2.42.

Alcoa (NYSE:AA) last released 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 net margin of 2.65% and a negative return on equity of 1.45%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the business earned ($1.14) EPS. The company’s revenue was up 11.6% compared to the same quarter last year. Equities analysts predict that Alcoa Co. will post 0.74 EPS for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.99%. Alcoa’s payout ratio is -22.73%.

Insider Activity

In other news, EVP Renato Bacchi sold 23,867 shares of Alcoa stock in a transaction on 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 completion of the sale, the executive vice president now owns 57,317 shares in the company, valued at $2,423,935.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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.