Alcoa Inc. (AA) Director Ratan Tata Buys 845 Shares of Stock
Alcoa Inc. (NYSE:AA) Director Ratan Tata acquired 845 shares of the business’s stock in a transaction that occurred on Thursday, October 13th. The shares were acquired at an average cost of $26.75 per share, with a total value of $22,603.75. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Alcoa Inc. (NYSE:AA) opened at 26.44 on Monday. The firm has a 50-day moving average price of $29.51 and a 200-day moving average price of $29.79. Alcoa Inc. has a 12 month low of $18.42 and a 12 month high of $34.50. The company’s market capitalization is $11.59 billion.
Alcoa (NYSE:AA) last released its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The company earned $5.21 billion during the quarter. During the same quarter in the previous year, the firm posted $0.07 earnings per share. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. On average, equities analysts anticipate that Alcoa Inc. will post $0.44 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. Alcoa’s payout ratio is -63.15%.
Several large investors have recently added to or reduced their stakes in AA. Vanguard Group Inc. increased its stake in Alcoa by 2.9% in the second quarter. Vanguard Group Inc. now owns 118,489,630 shares of the company’s stock worth $1,098,398,000 after buying an additional 3,387,829 shares during the last quarter. First Pacific Advisors LLC increased its position in shares of Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the company’s stock valued at $597,509,000 after buying an additional 7,650,380 shares in the last quarter. Orbis Allan Gray Ltd purchased a new position in shares of Alcoa during the first quarter valued at approximately $374,584,000. BlackRock Institutional Trust Company N.A. increased its position in shares of Alcoa by 3.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 34,741,129 shares of the company’s stock valued at $322,050,000 after buying an additional 1,074,056 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Alcoa by 2.3% in the first quarter. Geode Capital Management LLC now owns 10,720,212 shares of the company’s stock valued at $102,493,000 after buying an additional 240,383 shares in the last quarter.
Several research firms recently weighed in on AA. Credit Suisse Group AG set a $39.00 price objective on Alcoa and gave the stock a “buy” rating in a research report on Saturday, October 8th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Alcoa in a report on Tuesday, July 12th. BMO Capital Markets reaffirmed a “hold” rating and issued a $9.00 price target on shares of Alcoa in a report on Tuesday, July 12th. Macquarie reaffirmed a “buy” rating on shares of Alcoa in a report on Tuesday, July 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 price target on shares of Alcoa in a report on Wednesday, October 5th. Eleven equities research 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 stock. The company presently has an average rating of “Buy” and a consensus target price of $17.74.
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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