Alcoa Co. (NYSE:AA - Get Free Report) EVP Renato Bacchi sold 23,867 shares of the company's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $42.29, for a total transaction of $1,009,335.43. Following the sale, the executive vice president now directly owns 57,317 shares in the company, valued at approximately $2,423,935.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Alcoa Stock Up 0.3 %
Shares of NYSE:AA traded up $0.14 during trading on Thursday, reaching $42.02. The stock had a trading volume of 3,695,426 shares, compared to its average volume of 5,945,691. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $7.55 billion, a P/E ratio of -11.14 and a beta of 2.42. The firm's 50-day simple moving average is $35.59 and its 200 day simple moving average is $36.91. Alcoa Co. has a one year low of $23.14 and a one year high of $45.48.
Alcoa (NYSE:AA - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business's revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the previous year, the company earned ($1.14) earnings per share. As a group, research analysts expect that Alcoa Co. will post 0.29 EPS for the current fiscal year.
Alcoa Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.95%. Alcoa's dividend payout ratio is presently -10.64%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on AA shares. JPMorgan Chase & Co. upped their price objective on Alcoa from $36.00 to $39.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. Morgan Stanley upped their price target on shares of Alcoa from $48.00 to $49.00 and gave the company an "overweight" rating in a report on Friday, October 18th. UBS Group raised their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, October 15th. StockNews.com upgraded Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, October 17th. Finally, Wolfe Research upgraded Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $44.75.
Read Our Latest Stock Report on AA
Institutional Investors Weigh In On Alcoa
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. acquired a new stake in Alcoa during the second quarter worth about $27,000. UMB Bank n.a. grew its stake in shares of Alcoa by 481.7% during the 3rd quarter. UMB Bank n.a. now owns 762 shares of the industrial products company's stock worth $29,000 after purchasing an additional 631 shares during the period. Toronto Dominion Bank increased its holdings in shares of 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 in the last quarter. Fifth Third Bancorp lifted its stake in shares of Alcoa by 15.1% in the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company's stock valued at $94,000 after purchasing an additional 309 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Alcoa in the 1st quarter valued at $101,000. 82.39% of the stock is owned by institutional investors and hedge funds.
Alcoa Company Profile
(
Get Free Report)
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.
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