River Global Investors LLP Acquires 24,278 Shares of Alcoa Co. (NYSE:AA)

River Global Investors LLP grew its holdings in shares of Alcoa Co. (NYSE:AA - Free Report) by 130.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,938 shares of the industrial products company's stock after purchasing an additional 24,278 shares during the period. River Global Investors LLP's holdings in Alcoa were worth $1,458,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. acquired a new position in Alcoa in the 3rd quarter valued at about $39,557,000. Raymond James & Associates raised its stake in shares of Alcoa by 3,731.1% during the fourth quarter. Raymond James & Associates now owns 799,705 shares of the industrial products company's stock worth $27,190,000 after purchasing an additional 778,831 shares during the last quarter. Monaco Asset Management SAM lifted its holdings in shares of Alcoa by 1,362.5% during the third quarter. Monaco Asset Management SAM now owns 585,000 shares of the industrial products company's stock worth $17,000,000 after purchasing an additional 545,000 shares during the period. Russell Investments Group Ltd. grew its position in Alcoa by 61.7% in the 4th quarter. Russell Investments Group Ltd. now owns 904,407 shares of the industrial products company's stock valued at $30,751,000 after buying an additional 345,004 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Alcoa by 7.4% in the 3rd quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company's stock valued at $93,457,000 after buying an additional 222,884 shares during the period.

Alcoa Trading Up 2.3 %

NYSE:AA traded up $0.83 on Friday, reaching $36.77. The stock had a trading volume of 5,496,634 shares, compared to its average volume of 6,977,672. Alcoa Co. has a 12-month low of $23.07 and a 12-month high of $38.20. The company has a market cap of $6.60 billion, a price-to-earnings ratio of -9.78, a P/E/G ratio of 3.77 and a beta of 2.45. The firm's fifty day moving average is $32.93 and its two-hundred day moving average is $29.72. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93.

Alcoa (NYSE:AA - Get Free Report) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.62) by ($0.19). The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.23) EPS. Equities analysts expect that Alcoa Co. will post 0.2 EPS for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Tuesday, March 5th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, March 4th. Alcoa's dividend payout ratio (DPR) is -10.64%.

Insider Activity

In other Alcoa 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 value 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 document filed with the SEC, which can be accessed through the SEC website.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Alcoa from $35.00 to $37.00 and gave the stock a "market perform" rating in a research note on Thursday, April 18th. Morgan Stanley upgraded Alcoa from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $28.50 to $36.50 in a research report on Monday, April 22nd. StockNews.com cut Alcoa from a "hold" rating to a "sell" rating in a report on Friday, April 19th. Jefferies Financial Group upped their price objective on Alcoa from $45.00 to $48.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. Finally, UBS Group raised their target price on Alcoa from $27.00 to $32.00 and gave the company a "sell" rating in a report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $33.54.

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.