Traders Buy Alcoa Inc. (AA) on Weakness
Investors purchased shares of Alcoa Inc. (NYSE:AA) on weakness during trading on Tuesday. $38.93 million flowed into the stock on the tick-up and $19.77 million flowed out of the stock on the tick-down, for a money net flow of $19.16 million into the stock. Of all companies tracked, Alcoa had the 21st highest net in-flow for the day. Alcoa traded down ($0.15) for the day and closed at $10.32
AA has been the topic of a number of research analyst reports. Argus reissued a “hold” rating on shares of Alcoa in a report on Friday, July 15th. Rosenblatt Securities reissued a “buy” rating and issued a $15.00 price target on shares of Alcoa in a report on Friday, July 15th. BMO Capital Markets reissued a “hold” rating and issued a $9.00 price target on shares of Alcoa in a report on Tuesday, July 12th. Cowen and Company reissued a “hold” rating on shares of Alcoa in a report on Tuesday, July 12th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Alcoa in a report on Tuesday, July 12th. Nine research 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 stock. The stock presently has an average rating of “Buy” and a consensus price target of $11.31.
The stock has a 50-day moving average of $10.03 and a 200 day moving average of $9.39. The firm’s market capitalization is $13.57 billion.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Monday, July 11th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.06. The business earned $5.30 billion during the quarter. The business’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. Equities research analysts anticipate that Alcoa Inc. will post $0.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Friday, August 5th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, August 3rd.
In other news, Director Ulrich Schmidt acquired 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 completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position in Alcoa by 5.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 173,371 shares of the company’s stock valued at $1,711,000 after buying an additional 8,755 shares during the last quarter. ING Groep purchased a new position in Alcoa during the third quarter valued at approximately $1,002,000. Advantus Capital Management Inc raised its position in Alcoa by 2.0% in the fourth quarter. Advantus Capital Management Inc now owns 125,276 shares of the company’s stock valued at $1,236,000 after buying an additional 2,445 shares during the last quarter. Mutual of America Capital Management LLC raised its position in Alcoa by 1.0% in the fourth quarter. Mutual of America Capital Management LLC now owns 146,165 shares of the company’s stock valued at $1,443,000 after buying an additional 1,435 shares during the last quarter. Finally, Boston Partners raised its position in Alcoa by 52.5% in the fourth quarter. Boston Partners now owns 251,733 shares of the company’s stock valued at $2,485,000 after buying an additional 86,667 shares during 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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