AA has been the topic of a number of other research reports. Argus restated a hold rating on shares of Alcoa in a research note on Friday, July 15th. Morgan Stanley reiterated a buy rating and issued a $12.00 price target on shares of Alcoa in a research note on Tuesday, August 16th. Seaport Global Securities assumed coverage on Alcoa in a research note on Friday, September 9th. They issued a neutral rating and a $11.00 price target on the stock. JPMorgan Chase & Co. reiterated a hold rating on shares of Alcoa in a research note on Tuesday, July 12th. Finally, Cowen and Company reiterated a hold rating on shares of Alcoa in a research note on Tuesday, July 12th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $16.15.
Alcoa (NYSE:AA) traded down 2.9291% during mid-day trading on Tuesday, hitting $27.0925. The stock had a trading volume of 8,289,169 shares. Alcoa has a one year low of $18.42 and a one year high of $34.50. The firm’s market capitalization is $11.88 billion. The stock’s 50 day moving average price is $29.84 and its 200 day moving average price is $29.85.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The firm had revenue of $5.21 billion for the quarter. During the same quarter last year, the business earned $0.07 EPS. Alcoa’s revenue was down 6.5% on a year-over-year basis. Analysts forecast that Alcoa will post $0.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s payout ratio is -42.85%.
In other news, Director Ulrich Schmidt bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was acquired at an average cost of $10.40 per share, with a total value of $52,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A number of hedge funds have recently modified their holdings of AA. CIBC World Markets Inc. purchased a new stake in shares of Alcoa during the first quarter worth approximately $278,000. Ngam Advisors L.P. raised its stake in shares of Alcoa by 16.6% in the first quarter. Ngam Advisors L.P. now owns 157,575 shares of the company’s stock worth $1,510,000 after buying an additional 22,423 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Alcoa by 39.7% in the first quarter. TIAA CREF Investment Management LLC now owns 5,002,753 shares of the company’s stock worth $47,926,000 after buying an additional 1,421,744 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Alcoa by 47.6% in the first quarter. Prudential Financial Inc. now owns 2,732,470 shares of the company’s stock worth $26,177,000 after buying an additional 881,400 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Alcoa by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 33,667,073 shares of the company’s stock worth $322,531,000 after buying an additional 353,481 shares in the last quarter.
Alcoa Company Profile
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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