Alcoa Target of Unusually High Options Trading (NYSE:AA)

Alcoa Co. (NYSE:AA - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Investors bought 28,620 call options on the company. This represents an increase of approximately 53% compared to the typical volume of 18,647 call options.

Alcoa Price Performance

Shares of Alcoa stock traded down $2.85 during trading on Friday, hitting $34.40. 7,214,120 shares of the company were exchanged, compared to its average volume of 5,136,637. The firm has a 50 day moving average price of $36.93 and a 200 day moving average price of $37.80. The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of -214.98, a P/E/G ratio of 0.20 and a beta of 2.43. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa has a fifty-two week low of $24.86 and a fifty-two week high of $47.77.

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

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.16%. Alcoa's dividend payout ratio is currently -250.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AA shares. JPMorgan Chase & Co. boosted their target price on Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research report on Thursday, January 16th. Morgan Stanley dropped their price objective on Alcoa from $55.00 to $51.00 and set an "overweight" rating on the stock in a report on Tuesday, January 28th. Jefferies Financial Group decreased their target price on shares of Alcoa from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. B. Riley upgraded shares of Alcoa to a "strong-buy" rating in a report on Tuesday, January 21st. Finally, BMO Capital Markets boosted their price objective on shares of Alcoa to $43.00 and gave the stock a "hold" rating in a report on Friday, January 17th. Four 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $46.55.

Institutional Investors Weigh In On Alcoa

Hedge funds and other institutional investors have recently modified their holdings of the company. Retirement Systems of Alabama grew its stake in Alcoa by 41.6% in the 3rd quarter. Retirement Systems of Alabama now owns 313,822 shares of the industrial products company's stock worth $12,107,000 after acquiring an additional 92,201 shares during the period. ING Groep NV purchased a new stake in shares of Alcoa in the third quarter valued at $10,201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Alcoa by 6.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 628,116 shares of the industrial products company's stock valued at $24,233,000 after purchasing an additional 36,869 shares during the last quarter. Aigen Investment Management LP increased its stake in Alcoa by 73.0% in the third quarter. Aigen Investment Management LP now owns 36,848 shares of the industrial products company's stock valued at $1,422,000 after purchasing an additional 15,546 shares during the last quarter. Finally, Mountaineer Partners Management LLC lifted its position in Alcoa by 4,023.0% during the third quarter. Mountaineer Partners Management LLC now owns 10,795,880 shares of the industrial products company's stock worth $416,505,000 after buying an additional 10,534,036 shares during the period.

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.