Alcoa $AA Shares Bought by Voya Investment Management LLC

Voya Investment Management LLC grew its position in shares of Alcoa (NYSE:AA) by 33.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,783,280 shares of the industrial products company’s stock after buying an additional 444,980 shares during the quarter. Voya Investment Management LLC owned 0.69% of Alcoa worth $58,652,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its holdings in shares of Alcoa by 121.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock valued at $46,312,000 after buying an additional 861,383 shares during the period. Public Employees Retirement System of Ohio raised its position in Alcoa by 5.6% in the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock worth $2,367,000 after acquiring an additional 4,255 shares in the last quarter. Strs Ohio acquired a new stake in Alcoa in the first quarter valued at $841,000. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Alcoa during the 2nd quarter worth $44,893,000. Finally, Mirabella Financial Services LLP grew its stake in shares of Alcoa by 62.5% during the 2nd quarter. Mirabella Financial Services LLP now owns 325,000 shares of the industrial products company’s stock worth $9,591,000 after purchasing an additional 125,000 shares during the period.

Wall Street Analyst Weigh In

AA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $35.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. HSBC upped their price target on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Argus set a $45.00 target price on Alcoa in a research report on Thursday, October 30th. B. Riley lifted their price target on Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, Wells Fargo & Company began coverage on shares of Alcoa in a report on Tuesday, October 7th. They set an “overweight” rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and an average target price of $45.77.

Alcoa Stock Up 6.5%

AA stock opened at $51.30 on Friday. The company has a 50 day moving average price of $40.04 and a two-hundred day moving average price of $34.08. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.91 and a current ratio of 1.56. The stock has a market capitalization of $13.29 billion, a P/E ratio of 11.85, a PEG ratio of 0.24 and a beta of 1.99. Alcoa has a one year low of $21.53 and a one year high of $51.67.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.13. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Alcoa had a return on equity of 15.85% and a net margin of 8.91%.The business’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. As a group, sell-side analysts expect that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Tuesday, November 4th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, November 4th. Alcoa’s payout ratio is 9.24%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.