39,000 Shares in Alcoa Co. (NYSE:AA) Bought by ING Groep NV

ING Groep NV bought a new position in Alcoa Co. (NYSE:AA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 39,000 shares of the industrial products company’s stock, valued at approximately $1,326,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP lifted its stake in Alcoa by 34.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,312,340 shares of the industrial products company’s stock worth $146,626,000 after purchasing an additional 1,104,423 shares during the last quarter. Invesco Ltd. lifted its stake in Alcoa by 7.4% in the third quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock worth $93,457,000 after purchasing an additional 222,884 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in Alcoa in the third quarter worth $39,557,000. Charles Schwab Investment Management Inc. lifted its stake in Alcoa by 7.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,325,714 shares of the industrial products company’s stock worth $45,074,000 after purchasing an additional 91,242 shares during the last quarter. Finally, Douglas Lane & Associates LLC lifted its stake in Alcoa by 16.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 1,197,317 shares of the industrial products company’s stock worth $40,709,000 after purchasing an additional 173,367 shares during the last quarter.

Alcoa Price Performance

Shares of AA opened at $44.09 on Wednesday. The company has a market capitalization of $7.92 billion, a P/E ratio of -11.73, a price-to-earnings-growth ratio of 4.23 and a beta of 2.45. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $35.69 and a 200 day moving average of $30.98. Alcoa Co. has a twelve month low of $23.07 and a twelve month high of $44.57.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the firm posted ($0.23) EPS. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that Alcoa Co. will post 0.2 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, May 20th. Alcoa’s dividend payout ratio is presently -10.64%.

Insider Transactions at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $30.78, for a total transaction of $814,685.04. Following the transaction, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley raised shares of Alcoa from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $28.50 to $36.50 in a research note on Monday, April 22nd. Jefferies Financial Group increased their target price on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. UBS Group increased their target price on shares of Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a report on Friday, April 19th. Bank of America increased their target price on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Finally, B. Riley increased their target price on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, April 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $33.54.

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.