Landscape Capital Management L.L.C. Makes New Investment in Alcoa Co. (NYSE:AA)

Landscape Capital Management L.L.C. acquired a new stake in Alcoa Co. (NYSE:AA) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,084 shares of the industrial products company’s stock, valued at approximately $543,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after acquiring an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Alcoa in the 2nd quarter valued at about $93,061,000. L1 Capital Pty Ltd acquired a new stake in Alcoa in the 1st quarter valued at about $72,658,000. Price T Rowe Associates Inc. MD grew its holdings 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 worth $49,958,000 after purchasing an additional 444,393 shares during the period. Finally, Marshall Wace LLP increased its position in Alcoa by 770.9% during the second quarter. Marshall Wace LLP now owns 1,422,797 shares of the industrial products company’s stock worth $56,599,000 after buying an additional 1,259,430 shares during the last quarter.

Alcoa Price Performance

Alcoa stock opened at $45.47 on Friday. The firm has a market cap of $11.75 billion, a PE ratio of -25.84, a price-to-earnings-growth ratio of 0.89 and a beta of 2.42. 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’s fifty day moving average price is $40.47 and its two-hundred day moving average price is $37.94. Alcoa Co. has a one year low of $23.80 and a one year high of $46.60.

Alcoa (NYSE:AA) last posted 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 business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the business posted ($1.14) EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, research analysts expect that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.88%. Alcoa’s payout ratio is currently -22.73%.

Insiders Place Their Bets

In other news, EVP Renato Bacchi sold 23,867 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $42.29, for a total value of $1,009,335.43. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Analyst Ratings Changes

A number of research firms have recently issued reports on AA. JPMorgan Chase & Co. raised their price objective on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley upped their price objective on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets raised their target price on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Finally, Wolfe Research upgraded shares of 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and an average target price of $44.75.

About Alcoa

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.