A number of other analysts also recently issued reports on AA. Berenberg Bank restated a hold rating and set a $9.00 price target on shares of Alcoa in a report on Tuesday, June 14th. Rosenblatt Securities restated a buy rating and set a $15.00 price target on shares of Alcoa in a report on Wednesday, June 15th. Bank of America Corp. restated a buy rating on shares of Alcoa in a report on Friday, June 17th. Morgan Stanley restated an overweight rating and set a $12.00 price target (up previously from $11.00) on shares of Alcoa in a report on Thursday, June 30th. Finally, Credit Suisse Group AG restated a buy rating on shares of Alcoa in a report on Thursday, June 30th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alcoa has a consensus rating of Buy and a consensus price target of $17.74.
Shares of Alcoa (NYSE:AA) traded down 1.77% during midday trading on Wednesday, reaching $26.63. The company’s stock had a trading volume of 4,902,640 shares. The company has a 50 day moving average price of $29.71 and a 200-day moving average price of $29.83. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50. The stock’s market capitalization is $11.68 billion.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.21. The business earned $5.21 billion during the quarter. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS. On average, equities research analysts expect that Alcoa will post $0.44 EPS for the current year.
The business also recently declared 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. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. Alcoa’s dividend payout ratio (DPR) is presently -63.15%.
In related news, Director Ulrich Schmidt purchased 5,000 shares of Alcoa 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 completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $104,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Alcoa by 2.9% in the second quarter. Vanguard Group Inc. now owns 118,489,630 shares of the company’s stock worth $1,098,398,000 after buying an additional 3,387,829 shares during the period. First Pacific Advisors LLC raised its position in Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the company’s stock worth $597,509,000 after buying an additional 7,650,380 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in Alcoa during the first quarter worth approximately $374,584,000. BlackRock Institutional Trust Company N.A. raised its position in Alcoa by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 34,741,129 shares of the company’s stock worth $322,050,000 after buying an additional 1,074,056 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Alcoa by 2.3% in the first quarter. Geode Capital Management LLC now owns 10,720,212 shares of the company’s stock worth $102,493,000 after buying an additional 240,383 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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