Alcoa Co. (NYSE:AA) Sees Large Increase in Short Interest

Alcoa Co. (NYSE:AA - Get Free Report) was the recipient of a large increase in short interest in February. As of February 15th, there was short interest totalling 11,420,000 shares, an increase of 34.4% from the January 31st total of 8,500,000 shares. Based on an average daily volume of 4,600,000 shares, the days-to-cover ratio is presently 2.5 days.

Alcoa Stock Up 0.0 %

Shares of NYSE:AA traded up $0.01 during mid-day trading on Friday, hitting $32.84. 4,178,040 shares of the company traded hands, compared to its average volume of 5,322,899. The firm's 50 day simple moving average is $36.02 and its 200 day simple moving average is $37.94. The firm has a market cap of $8.50 billion, a P/E ratio of -205.27, a PEG ratio of 0.19 and a beta of 2.55. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.86 and a current ratio of 1.45. Alcoa has a 52-week low of $27.12 and a 52-week high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. On average, equities analysts anticipate that Alcoa will post 4.43 EPS for the current year.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.22%. Alcoa's payout ratio is currently -250.00%.

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Institutional Trading of Alcoa

Large investors have recently modified their holdings of the business. Bessemer Group Inc. boosted its holdings in Alcoa by 77.1% in the fourth quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after purchasing an additional 296 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Alcoa in the 4th quarter valued at approximately $29,000. Point72 Hong Kong Ltd acquired a new position in shares of Alcoa in the 4th quarter valued at approximately $36,000. Smartleaf Asset Management LLC boosted its stake in shares of Alcoa by 59.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after buying an additional 393 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Alcoa during the third quarter worth approximately $43,000. 82.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AA. B. Riley raised shares of Alcoa to a "strong-buy" rating in a research note on Tuesday, January 21st. BMO Capital Markets boosted their price target on Alcoa to $43.00 and gave the company a "hold" rating in a report on Friday, January 17th. JPMorgan Chase & Co. increased their price target on Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. Bank of America lifted their price objective on Alcoa to $58.00 and gave the company a "buy" rating in a research report on Friday, January 24th. Finally, Jefferies Financial Group reduced their target price on Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Alcoa has an average rating of "Moderate Buy" and a consensus target price of $46.55.

Alcoa Company 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.