Meyer Handelman Co. decreased its holdings in Alcoa Corp (NYSE:AA) by 15.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,208 shares of the industrial products company’s stock after selling 1,866 shares during the period. Meyer Handelman Co.’s holdings in Alcoa were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in shares of Alcoa during the second quarter worth $105,000. Quad Cities Investment Group LLC acquired a new position in shares of Alcoa during the second quarter worth $112,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Alcoa by 104.6% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 3,931 shares of the industrial products company’s stock worth $159,000 after purchasing an additional 2,010 shares in the last quarter. Lodestar Investment Counsel LLC IL acquired a new position in shares of Alcoa during the second quarter worth $205,000. Finally, Hartford Investment Management Co. acquired a new position in shares of Alcoa during the second quarter worth $206,000.

NYSE AA opened at $34.36 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.40 and a quick ratio of 0.87. Alcoa Corp has a 1 year low of $33.08 and a 1 year high of $62.35. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 1.11 and a beta of 0.75.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.27. Alcoa had a negative net margin of 0.09% and a positive return on equity of 10.38%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Alcoa’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts anticipate that Alcoa Corp will post 3.72 EPS for the current fiscal year.

Alcoa declared that its board has initiated a stock repurchase plan on Wednesday, October 17th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of equities analysts recently commented on the stock. BMO Capital Markets lowered their target price on shares of Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, July 19th. Jefferies Financial Group set a $65.00 target price on shares of Alcoa and gave the stock a “buy” rating in a research note on Thursday, July 19th. ValuEngine downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Credit Suisse Group lowered their target price on shares of Alcoa from $69.00 to $65.00 and set an “outperform” rating for the company in a research note on Thursday, July 19th. Finally, Zacks Investment Research downgraded shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. Alcoa presently has a consensus rating of “Buy” and a consensus price target of $61.67.

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About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

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Institutional Ownership by Quarter for Alcoa (NYSE:AA)

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