Other equities research analysts have also recently issued research reports about the stock. Bank of America Corp. reiterated a buy rating and set a $11.00 price target on shares of Alcoa in a report on Tuesday, July 12th. Credit Suisse Group AG reiterated a buy rating on shares of Alcoa in a report on Thursday, June 30th. Rosenblatt Securities reiterated a buy rating and set a $15.00 price target on shares of Alcoa in a report on Wednesday, June 15th. Macquarie restated a buy rating on shares of Alcoa in a research report on Tuesday, July 12th. Finally, Zacks Investment Research upgraded shares of Alcoa from a hold rating to a buy rating and set a $11.00 price objective on the stock in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $11.10.
Alcoa (NYSE:AA) traded up 204.952% on Wednesday, reaching $31.715. 2,843,618 shares of the company were exchanged. Alcoa has a 12-month low of $18.42 and a 12-month high of $34.50. The firm has a 50-day moving average of $29.89 and a 200 day moving average of $29.80. The firm’s market capitalization is $41.72 billion.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Monday, July 11th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.06. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The firm had revenue of $5.30 billion for the quarter. During the same quarter in the previous year, the company earned $0.19 EPS. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, equities analysts predict that Alcoa will post $0.44 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.15%. Alcoa’s dividend payout ratio is presently -42.86%.
In other news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was purchased at an average cost of $10.40 per share, with a total value of $52,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $104,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Institutional investors have recently added to or reduced their stakes in the company. Bollard Group LLC raised its stake in shares of Alcoa by 0.3% in the second quarter. Bollard Group LLC now owns 37,679 shares of the company’s stock worth $349,000 after buying an additional 120 shares during the last quarter. Hollencrest Securities LLC raised its stake in Alcoa by 0.5% in the second quarter. Hollencrest Securities LLC now owns 41,420 shares of the company’s stock valued at $384,000 after buying an additional 204 shares in the last quarter. Washington Trust Bank raised its stake in Alcoa by 1.2% in the third quarter. Washington Trust Bank now owns 17,331 shares of the company’s stock valued at $176,000 after buying an additional 206 shares in the last quarter. Westport Resources Management Inc. raised its stake in Alcoa by 0.6% in the second quarter. Westport Resources Management Inc. now owns 45,540 shares of the company’s stock valued at $422,000 after buying an additional 250 shares in the last quarter. Finally, Confluence Investment Management LLC raised its stake in Alcoa by 0.9% in the second quarter. Confluence Investment Management LLC now owns 29,368 shares of the company’s stock valued at $272,000 after buying an additional 267 shares in the last quarter.
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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