Investors bought shares of Alcoa Corp (NYSE:AA) on weakness during trading hours on Monday. $62.79 million flowed into the stock on the tick-up and $29.19 million flowed out of the stock on the tick-down, for a money net flow of $33.60 million into the stock. Of all equities tracked, Alcoa had the 5th highest net in-flow for the day. Alcoa traded down ($0.02) for the day and closed at $46.68
A number of brokerages recently commented on AA. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, February 5th. ValuEngine raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 30th. Bank of America reissued a “buy” rating and issued a $63.00 price objective (down from $67.00) on shares of Alcoa in a research note on Thursday, January 18th. Finally, Cowen reissued a “market perform” rating and issued a $59.00 price objective (up from $51.00) on shares of Alcoa in a research note on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $57.72.
The company has a market capitalization of $8,640.00 and a price-to-earnings ratio of 36.47. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17.
In other Alcoa news, COO Tomas Mar Sigurdsson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total value of $513,700.00. Following the transaction, the chief operating officer now directly owns 46,832 shares in the company, valued at approximately $2,405,759.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William F. Oplinger sold 229,475 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the transaction, the vice president now owns 108,915 shares in the company, valued at $5,757,246.90. The disclosure for this sale can be found here.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Alcoa by 7.0% during the 4th quarter. BlackRock Inc. now owns 8,761,507 shares of the industrial products company’s stock worth $471,984,000 after acquiring an additional 570,178 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Alcoa by 207.1% during the 4th quarter. Alliancebernstein L.P. now owns 5,279,091 shares of the industrial products company’s stock worth $284,385,000 after acquiring an additional 3,559,958 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Alcoa by 88.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,700,684 shares of the industrial products company’s stock worth $125,898,000 after acquiring an additional 1,264,324 shares during the period. BT Investment Management Ltd lifted its holdings in shares of Alcoa by 2.5% during the 4th quarter. BT Investment Management Ltd now owns 2,592,629 shares of the industrial products company’s stock worth $139,665,000 after acquiring an additional 64,148 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of Alcoa during the 3rd quarter worth about $99,757,000.
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Alcoa Company Profile
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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