Regal Partners Ltd Purchases 350,237 Shares of Alcoa Co. (NYSE:AA)

Regal Partners Ltd boosted its position in Alcoa Co. (NYSE:AA) by 5,745.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 356,333 shares of the industrial products company’s stock after acquiring an additional 350,237 shares during the period. Alcoa accounts for 1.2% of Regal Partners Ltd’s portfolio, making the stock its 21st largest position. Regal Partners Ltd owned 0.14% of Alcoa worth $13,747,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AA. Allspring Global Investments Holdings LLC boosted its holdings in Alcoa by 15.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 14,344 shares of the industrial products company’s stock valued at $485,000 after acquiring an additional 1,867 shares during the last quarter. Headlands Technologies LLC bought a new position in Alcoa during the first quarter worth about $101,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Alcoa by 33.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 420,099 shares of the industrial products company’s stock worth $14,196,000 after buying an additional 104,745 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in Alcoa by 8.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 185,411 shares of the industrial products company’s stock worth $6,265,000 after buying an additional 13,721 shares during the last quarter. Finally, Jade Capital Advisors LLC bought a new position in Alcoa during the first quarter worth about $1,352,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AA shares. Argus upgraded Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, October 23rd. B. Riley Financial restated a “neutral” rating and set a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. BMO Capital Markets raised their price target on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Finally, Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.75.

Insider Buying and Selling at Alcoa

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

Alcoa Stock Down 0.9 %

Shares of Alcoa stock opened at $40.59 on Thursday. The business’s 50 day simple moving average is $38.42 and its 200 day simple moving average is $37.54. Alcoa Co. has a 52-week low of $23.80 and a 52-week high of $46.55. The firm has a market cap of $10.49 billion, a PE ratio of -23.06, a P/E/G ratio of 0.78 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.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 1.45% and a negative net margin of 2.65%. The business’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned ($1.14) earnings per share. On average, analysts predict that Alcoa Co. will post 0.89 earnings per share for the current fiscal year.

Alcoa Announces Dividend

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