Investors purchased shares of Alcoa Inc. (NYSE:AA) on weakness during trading on Thursday after Zacks Investment Research downgraded the stock from a buy rating to a hold rating. $133.15 million flowed into the stock on the tick-up and $85.80 million flowed out of the stock on the tick-down, for a money net flow of $47.35 million into the stock. Of all equities tracked, Alcoa had the 6th highest net in-flow for the day. Alcoa traded down ($0.80) for the day and closed at $27.11
AA has been the topic of a number of other reports. Argus reiterated a “hold” rating on shares of Alcoa in a research report on Friday, July 15th. Morgan Stanley restated a “buy” rating and issued a $12.00 target price on shares of Alcoa in a report on Tuesday, August 16th. Bank of America Corp. cut shares of Alcoa from a “buy” rating to a “neutral” rating in a report on Tuesday. Seaport Global Securities started coverage on shares of Alcoa in a report on Friday, September 9th. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $31.00 target price (down previously from $33.00) on shares of Alcoa in a report on Wednesday. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $17.74.
In other Alcoa news, Director Ulrich Schmidt acquired 5,000 shares of Alcoa stock in a transaction that occurred on Wednesday, July 20th. The stock was bought at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $104,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
A number of large investors have recently added to or reduced their stakes in the company. CIBC World Markets Inc. acquired a new stake in Alcoa during the first quarter valued at approximately $278,000. Ngam Advisors L.P. increased its stake in Alcoa by 16.6% in the first quarter. Ngam Advisors L.P. now owns 157,575 shares of the company’s stock valued at $1,510,000 after buying an additional 22,423 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new stake in Alcoa during the first quarter valued at approximately $823,000. Brookfield Asset Management Inc. increased its stake in Alcoa by 6.0% in the first quarter. Brookfield Asset Management Inc. now owns 33,322 shares of the company’s stock valued at $319,000 after buying an additional 1,900 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Alcoa by 89.6% in the first quarter. M&T Bank Corp now owns 91,300 shares of the company’s stock valued at $875,000 after buying an additional 43,139 shares during the last quarter.
The company has a 50 day moving average of $29.62 and a 200-day moving average of $29.80. The firm’s market capitalization is $11.73 billion.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 earnings per share 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 positive return on equity of 3.87% and a negative net margin of 0.88%. The company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Analysts predict that Alcoa Inc. will post $0.44 earnings per share for the current fiscal year.
The business also recently disclosed 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. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is currently -63.15%.
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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