ING Groep NV Buys Shares of 264,400 Alcoa Co. (NYSE:AA)

ING Groep NV purchased a new position in shares of Alcoa Co. (NYSE:AA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 264,400 shares of the industrial products company’s stock, valued at approximately $10,201,000. ING Groep NV owned 0.10% of Alcoa as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in shares of Alcoa by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after buying an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd purchased a new position in Alcoa during the 2nd quarter valued at about $93,061,000. L1 Capital Pty Ltd acquired a new position in Alcoa during the first quarter worth about $72,658,000. Capital Research Global Investors lifted its holdings in shares of Alcoa by 29.8% in the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after purchasing an additional 475,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Alcoa by 43.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock valued at $49,958,000 after purchasing an additional 444,393 shares during the last quarter.

Insider Transactions at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,423,935.93. The trade was a 29.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alcoa Stock Up 1.6 %

AA opened at $41.22 on Friday. The stock’s 50 day moving average price is $38.63 and its 200 day moving average price is $37.56. 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 market cap of $10.65 billion, a P/E ratio of -23.42, a P/E/G ratio of 0.78 and a beta of 2.42. Alcoa Co. has a 12 month low of $23.80 and a 12 month high of $46.55.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the business posted ($1.14) EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, research analysts predict that Alcoa Co. will post 0.89 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.97%. Alcoa’s dividend payout ratio (DPR) is presently -22.73%.

Wall Street Analysts Forecast Growth

AA has been the topic of a number of recent research reports. UBS Group upped their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. BMO Capital Markets increased their price objective on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 17th. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research report on Wednesday, September 4th. Argus raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, October 23rd. Finally, Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Alcoa has an average rating of “Moderate Buy” and a consensus price target of $44.75.

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.