8,183 Shares in Alcoa Co. (NYSE:AA) Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. purchased a new position in shares of Alcoa Co. (NYSE:AA) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,183 shares of the industrial products company’s stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AA. ANTIPODES PARTNERS Ltd bought a new stake in Alcoa during the 2nd quarter worth $93,061,000. L1 Capital Pty Ltd bought a new stake in shares of Alcoa in the 1st quarter worth $72,658,000. Marshall Wace LLP grew its stake in shares of Alcoa by 770.9% in the 2nd quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after acquiring an additional 1,259,430 shares in the last quarter. Capital Research Global Investors grew its position in Alcoa by 29.8% during 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 buying an additional 475,000 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in Alcoa by 43.0% during 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 buying an additional 444,393 shares during the period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AA shares. 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 report on Wednesday, October 23rd. UBS Group increased their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a report on Tuesday, September 17th. Finally, Wolfe Research raised 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. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Alcoa currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Insider Activity

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Alcoa Trading Up 6.8 %

AA opened at $44.02 on Monday. Alcoa Co. has a one year low of $23.80 and a one year high of $46.55. The company has a market cap of $11.37 billion, a P/E ratio of -25.01, a PEG ratio of 0.84 and a beta of 2.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The business’s 50-day simple moving average is $38.94 and its 200-day simple moving average is $37.65.

Alcoa (NYSE:AA) last posted its quarterly earnings data 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. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm earned ($1.14) EPS. As a group, equities research analysts expect that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Tuesday, October 29th. Alcoa’s dividend payout ratio is currently -22.73%.

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.