Alcoa $AA Stock Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Alcoa stake by 1,498.8% in the third quarter, acquiring 672,939 additional shares for a total holding of 717,838 shares valued at approximately $30.1 million. Institutional investors collectively own 82.39% of Alcoa.
• Alcoa reported quarterly adjusted earnings of $1.82 per share, beating the $1.51 consensus estimate, while revenue rose 23.7% year over year to $3.70 billion. The company also declared a $0.10 quarterly dividend, equivalent to a 1.0% annual yield.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy, five Hold and one Sell, producing a consensus rating of Hold and an average price target of $62.17, compared with a share price of $41.45.

Assenagon Asset Management S.A. boosted its holdings in shares of Alcoa (NYSE:AA - Free Report) by 1,498.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 717,838 shares of the industrial products company's stock after buying an additional 672,939 shares during the period. Assenagon Asset Management S.A. owned about 0.27% of Alcoa worth $30,149,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of Alcoa by 10.4% during the 3rd quarter. GAMMA Investing LLC now owns 6,852 shares of the industrial products company's stock worth $288,000 after acquiring an additional 646 shares during the period. YHB Investment Advisors Inc. boosted its holdings in Alcoa by 3.2% during the third quarter. YHB Investment Advisors Inc. now owns 9,569 shares of the industrial products company's stock valued at $402,000 after purchasing an additional 301 shares in the last quarter. Ausbil Investment Management Ltd bought a new stake in shares of Alcoa in the 3rd quarter valued at approximately $588,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Alcoa by 4.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,373 shares of the industrial products company's stock valued at $332,000 after purchasing an additional 282 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Alcoa by 7.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 349,306 shares of the industrial products company's stock valued at $18,213,000 after purchasing an additional 22,880 shares during the period. Institutional investors own 82.39% of the company's stock.

Insider Activity

In other Alcoa news, EVP Renato Bacchi sold 700 shares of the business's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $51.02, for a total transaction of $35,714.00. Following the completion of the sale, the executive vice president directly owned 74,930 shares of the company's stock, valued at approximately $3,822,928.60. The trade was a 0.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Tammi A. Jones sold 15,628 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $50.60, for a total value of $790,776.80. Following the sale, the executive vice president directly owned 39,819 shares of the company's stock, valued at $2,014,841.40. This represents a 28.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.43% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of Alcoa from $53.00 to $50.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 7th. BMO Capital Markets reduced their price target on shares of Alcoa from $60.00 to $55.00 and set a "market perform" rating on the stock in a research report on Friday, July 17th. UBS Group decreased their price objective on shares of Alcoa from $80.00 to $68.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Argus decreased their price objective on shares of Alcoa from $73.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company reaffirmed an "overweight" rating on shares of Alcoa in a report on Friday. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Alcoa currently has a consensus rating of "Hold" and an average target price of $62.17.

Alcoa Price Performance

Shares of AA stock opened at $41.45 on Monday. Alcoa has a 1 year low of $35.12 and a 1 year high of $84.38. The firm's 50 day moving average is $46.92 and its 200-day moving average is $55.99. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 7.16, a PEG ratio of 0.51 and a beta of 1.74. The company has a current ratio of 2.31, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.51 by $0.31. The business had revenue of $3.70 billion for the quarter, compared to analysts' expectations of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 24.58%. Alcoa's revenue was up 23.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Sell-side analysts forecast that Alcoa will post 6.69 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Tuesday, October 27th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, October 27th. This represents a $0.40 annualized dividend and a yield of 1.0%. Alcoa's dividend payout ratio (DPR) is currently 6.91%.

Alcoa News Roundup

Here are the key news stories impacting Alcoa this week:

• Positive Sentiment: Profit more than doubled. Alcoa reported third-quarter net income of $483 million, up from $232 million a year earlier, while adjusted earnings per share of $1.82 exceeded analysts’ expectations of approximately $1.51–$1.54. Revenue rose 23.7% year over year to $3.704 billion. Alcoa rallies after posting higher Q3 profit
• Positive Sentiment: Operations and cash generation improved. Higher aluminum production, better refinery performance and strong quarterly free cash flow supported investor confidence. Management reaffirmed full-year production and shipment guidance across alumina and aluminum. Why Alcoa Stock Popped on Friday
• Positive Sentiment: Asset monetization provides a potential cash boost. Alcoa agreed to sell portions of its Massena East site for as much as $315 million, including land intended for data-center development. The transaction supports the company’s goal of monetizing $500 million to $1 billion of assets by 2030. Alcoa plans to sell part of its Massena East site
• Positive Sentiment: South32 transaction advanced. South32 shareholders approved Alcoa’s planned acquisition of assets in Australia, Brazil and South Africa. Alcoa has completed $2.6 billion in debt financing, with the multibillion-dollar AliGroup deal targeted to close in the first half of 2027. Alcoa key takeaways for long-term investors
• Positive Sentiment: Shareholder returns continued. The board declared a quarterly dividend of $0.10 per share, payable November 13 to investors of record October 27. Barclays also initiated coverage with an Overweight rating and a $55 price target. Alcoa declares quarterly cash dividend

Alcoa Profile

Alcoa Corporation NYSE: AA is a global producer of bauxite, alumina and aluminum. Its operations span the aluminum value chain, including bauxite mining, alumina refining, aluminum smelting, casting and the production of value-added aluminum products. These materials serve customers in industries such as transportation, building and construction, packaging, aerospace and industrial manufacturing.

The company operates across multiple regions, with assets and activities in North America, South America, Europe, Australia and other international markets.

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