Alcoa Inc. (AA) Short Interest Update
Alcoa Inc. (NYSE:AA) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 108,058,030 shares, a decline of 1.9% from the August 31st total of 110,127,697 shares. Currently, 8.4% of the company’s stock are short sold. Based on an average daily volume of 17,527,870 shares, the days-to-cover ratio is currently 6.2 days.
Several analysts have issued reports on the stock. 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 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. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Alcoa has an average rating of “Buy” and a consensus target price of $11.10.
In other news, Director Ulrich Schmidt bought 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average cost of $10.40 per share, with a total value of $52,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $104,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp increased its position in shares of Alcoa by 89.6% in the first quarter. M&T Bank Corp now owns 91,300 shares of the company’s stock worth $875,000 after buying an additional 43,139 shares during the period. Brookfield Asset Management Inc. increased its position in shares of Alcoa by 6.0% in the first quarter. Brookfield Asset Management Inc. now owns 33,322 shares of the company’s stock worth $319,000 after buying an additional 1,900 shares during the period. Shufro Rose & Co. LLC increased its position in shares of Alcoa by 11.8% in the first quarter. Shufro Rose & Co. LLC now owns 1,210,722 shares of the company’s stock worth $11,599,000 after buying an additional 128,268 shares during the period. Canandaigua National Bank & Trust Co. purchased a new position in shares of Alcoa during the first quarter worth approximately $122,000. Finally, NN Investment Partners Holdings N.V. purchased a new position in shares of Alcoa during the first quarter worth approximately $823,000.
Alcoa (NYSE:AA) opened at 31.37 on Friday. The company has a 50-day moving average of $29.91 and a 200 day moving average of $29.82. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50. The firm’s market cap is $41.26 billion.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Monday, July 11th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The company earned $5.30 billion during the quarter. During the same period last year, the business earned $0.19 EPS. The business’s revenue was down 10.2% on a year-over-year basis. On average, equities research analysts anticipate that Alcoa will post $0.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is presently -42.86%.
Alcoa Company Profile
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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