Alcoa Inc. (AA) Stock Price Down 2.9%
Alcoa Inc. (NYSE:AA)’s share price traded down 2.9% during trading on Wednesday . The company traded as low as $10.16 and last traded at $10.20, with a volume of 8,783,262 shares traded. The stock had previously closed at $10.50.
A number of equities analysts recently commented on the stock. Argus reiterated a “hold” rating on shares of Alcoa in a research report on Friday, July 15th. Morgan Stanley reiterated a “buy” rating and issued a $12.00 target price on shares of Alcoa in a research report on Tuesday, August 16th. Bank of America Corp. reiterated a “buy” rating on shares of Alcoa in a research report on Friday, June 17th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. Finally, Deutsche Bank AG reiterated a “buy” rating on shares of Alcoa in a research report on Tuesday, May 31st. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alcoa currently has a consensus rating of “Buy” and a consensus target price of $11.31.
The company’s market capitalization is $13.26 billion. The firm’s 50-day moving average is $10.43 and its 200-day moving average is $9.73.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Monday, July 11th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.06. During the same quarter in the previous year, the company earned $0.19 earnings per share. The company earned $5.30 billion during the quarter. Alcoa’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts anticipate that Alcoa Inc. will post $0.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Friday, August 5th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, August 3rd.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were acquired at an average price of $10.40 per share, with a total value of $52,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Other hedge funds and institutional investors have bought and sold shares of the company. Jennison Associates LLC boosted its stake in Alcoa by 215.2% in the fourth quarter. Jennison Associates LLC now owns 115,054 shares of the company’s stock worth $1,136,000 after buying an additional 78,549 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Alcoa by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 1,867,973 shares of the company’s stock worth $18,437,000 after buying an additional 36,478 shares in the last quarter. Finally, BlackRock Advisors LLC boosted its stake in Alcoa by 393.4% in the fourth quarter. BlackRock Advisors LLC now owns 3,664,862 shares of the company’s stock worth $36,173,000 after buying an additional 2,922,096 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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