Impax Asset Management Group plc Invests $664,000 in Alcoa Co. (NYSE:AA)

Impax Asset Management Group plc bought a new position in shares of Alcoa Co. (NYSE:AA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 17,207 shares of the industrial products company’s stock, valued at approximately $664,000.

A number of other large investors have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after acquiring an additional 390,930 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Alcoa during the 2nd quarter worth approximately $93,061,000. L1 Capital Pty Ltd bought a new stake in Alcoa in the 1st quarter valued at $72,658,000. Capital Research Global Investors grew its holdings in Alcoa by 29.8% in the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after buying an additional 475,000 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Alcoa by 43.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,478,424 shares of the industrial products company’s stock worth $49,958,000 after buying an additional 444,393 shares during the period. Institutional investors own 82.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their target price for the stock from $43.00 to $52.00 in a research report on Tuesday, October 1st. UBS Group lifted their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. Finally, StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Alcoa has an average rating of “Moderate Buy” and a consensus price target of $44.75.

Alcoa Stock Performance

NYSE AA opened at $44.02 on Friday. Alcoa Co. has a fifty-two week low of $23.80 and a fifty-two week high of $46.55. The stock has a market cap of $11.37 billion, a PE ratio of -25.01, a PEG ratio of 0.77 and a beta of 2.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. The firm’s fifty day moving average price is $38.94 and its two-hundred day moving average price is $37.62.

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

Alcoa Dividend Announcement

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

Insider Buying and Selling at Alcoa

In other news, EVP Renato Bacchi sold 23,867 shares of the business’s stock in a transaction that occurred on 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 owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 29.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.08% of the company’s stock.

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.