Alcoa Inc. (NYSE:AA) announced its quarterly earnings results on Tuesday. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.21. The firm earned $5.21 billion during the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 earnings per share.
Shares of Alcoa (NYSE:AA) opened at 27.11 on Thursday. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50. The stock has a 50 day moving average of $29.71 and a 200 day moving average of $29.83. The stock’s market cap is $11.89 billion.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio is currently -42.85%.
In other news, Director Ulrich Schmidt bought 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The stock was bought 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 in the company, valued at approximately $104,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Institutional investors have recently added to or reduced their stakes in the stock. Deere & Co. increased its position in Alcoa by 201.9% in the second quarter. Deere & Co. now owns 183,527 shares of the company’s stock valued at $1,701,000 after buying an additional 122,732 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Alcoa by 1.7% in the second quarter. Janney Montgomery Scott LLC now owns 141,467 shares of the company’s stock worth $1,396,000 after buying an additional 2,386 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Alcoa by 18.2% in the second quarter. Public Sector Pension Investment Board now owns 249,282 shares of the company’s stock worth $2,311,000 after buying an additional 38,300 shares in the last quarter. National Pension Service increased its position in shares of Alcoa by 10.0% in the second quarter. National Pension Service now owns 937,041 shares of the company’s stock worth $8,686,000 after buying an additional 85,261 shares in the last quarter. Finally, Tredje AP fonden increased its position in shares of Alcoa by 66.6% in the second quarter. Tredje AP fonden now owns 57,800 shares of the company’s stock worth $536,000 after buying an additional 23,100 shares in the last quarter.
Several analysts recently issued reports on the stock. Credit Suisse Group AG set a $39.00 target price on shares of Alcoa and gave the company a “buy” rating in a research report on Saturday, October 8th. Royal Bank Of Canada cut their target price on shares of Alcoa to $31.00 and set a “sector perform” rating for the company in a research report on Wednesday. Deutsche Bank AG cut their target price on shares of Alcoa to $33.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America Corp. restated a “buy” rating and set a $33.00 target price on shares of Alcoa in a research report on Wednesday. Finally, RBC Capital Markets restated a “sector perform” rating and set a $31.00 target price (down from $33.00) on shares of Alcoa in a research report on Wednesday. Ten 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. Alcoa currently has a consensus rating of “Buy” and a consensus target price of $16.83.
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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