Traders Purchase Large Volume of Alcoa Call Options (NYSE:AA)

Alcoa Co. (NYSE:AA - Get Free Report) was the target of unusually large options trading on Friday. Stock investors bought 27,556 call options on the stock. This is an increase of approximately 53% compared to the typical daily volume of 18,056 call options.

Alcoa Stock Down 0.7 %

Shares of Alcoa stock traded down $0.20 on Monday, reaching $30.46. 3,057,317 shares of the company were exchanged, compared to its average volume of 4,997,779. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of -190.38, a PEG ratio of 0.19 and a beta of 2.55. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The company has a 50-day moving average of $34.75 and a 200 day moving average of $38.19. Alcoa has a one year low of $27.12 and a one year high of $47.77.

Alcoa (NYSE:AA - Get Free Report) last announced 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 research analysts forecast that Alcoa will post 4.43 earnings per share for the current year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.31%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa's payout ratio is presently -250.00%.

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Institutional Trading of Alcoa

Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its holdings in Alcoa by 77.1% in the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company's stock valued at $26,000 after acquiring an additional 296 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Alcoa during the fourth quarter worth approximately $29,000. Point72 Hong Kong Ltd acquired a new stake in Alcoa during the 4th quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its stake in Alcoa by 59.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,051 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 393 shares during the period. Finally, Quarry LP acquired a new position in Alcoa in the 3rd quarter valued at $43,000. Institutional investors and hedge funds own 82.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group decreased their target price on Alcoa from $53.00 to $47.00 and set a "buy" rating for the company in a research note on Thursday. JPMorgan Chase & Co. increased their target price on Alcoa from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Thursday, January 16th. BMO Capital Markets lifted their price target on shares of Alcoa to $43.00 and gave the company a "hold" rating in a research note on Friday, January 17th. Bank of America increased their price objective on shares of Alcoa to $58.00 and gave the stock a "buy" rating in a research report on Friday, January 24th. Finally, B. Riley raised shares of Alcoa to a "strong-buy" rating in a research report on Tuesday, January 21st. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $49.92.

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.