8,183 Shares in Alcoa Co. (NYSE:AA) Purchased by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new stake in Alcoa Co. (NYSE:AA) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 8,183 shares of the industrial products company’s stock, valued at approximately $316,000.

Other institutional investors also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new stake in Alcoa in the second quarter worth approximately $27,000. UMB Bank n.a. raised its stake in Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 631 shares during the period. Toronto Dominion Bank raised its stake in Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 1,592 shares during the period. Fifth Third Bancorp increased its stake in shares of Alcoa by 15.1% in the second quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 309 shares during the last quarter. Finally, William B. Walkup & Associates Inc. acquired a new position in shares of Alcoa in the second quarter worth $102,000.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Renato Bacchi sold 23,867 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total value of $1,009,335.43. Following the transaction, the executive vice president now directly owns 57,317 shares of the company’s stock, valued at $2,423,935.93. This represents a 29.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Ratings Changes

AA has been the topic of several analyst reports. Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Wednesday, September 4th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. UBS Group increased their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. increased their target price on shares of Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets increased their target price on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.75.

Alcoa Trading Up 6.8 %

Shares of NYSE:AA opened at $44.02 on Monday. 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 company’s 50-day moving average price is $38.94 and its two-hundred day moving average price is $37.65. The stock has a market capitalization of $11.37 billion, a PE ratio of -25.01, a price-to-earnings-growth ratio of 0.84 and a beta of 2.42. Alcoa Co. has a one year low of $23.80 and a one year high of $46.55.

Alcoa (NYSE:AA) last issued its earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%. Alcoa’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.14) EPS. On average, equities analysts forecast that Alcoa Co. will post 0.89 EPS for the current fiscal year.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th were issued a $0.10 dividend. The ex-dividend date was Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Alcoa’s payout ratio is -22.73%.

Alcoa 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.