Alcoa Inc. (AA) Trading 2.5% Higher
Shares of Alcoa Inc. (NYSE:AA) traded up 2.5% during trading on Thursday . The company traded as high as $9.45 and last traded at $9.42, with a volume of 12,800,609 shares traded. The stock had previously closed at $9.19.
A number of analysts have commented on the company. Berenberg Bank reiterated a “hold” rating on shares of Alcoa in a research report on Saturday, April 9th. Bank of America Corp. restated a “hold” rating on shares of Alcoa in a research report on Tuesday, April 12th. Nomura Holdings Inc. restated a “neutral” rating and set a $8.00 target price on shares of Alcoa in a research report on Friday, March 18th. Vetr upgraded Alcoa from a “buy” rating to a “strong-buy” rating and set a $12.15 target price for the company in a research report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $9.00 target price (up previously from $8.00) on shares of Alcoa in a research report on Friday, April 15th. Ten investment 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. Alcoa has a consensus rating of “Buy” and an average price target of $11.31.
The company has a 50 day moving average price of $9.45 and a 200 day moving average price of $9.17. The company’s market capitalization is $12.28 billion.
Alcoa (NYSE:AA) last released its earnings results on Monday, April 11th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $4.95 billion for the quarter. Alcoa’s revenue was down 15.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Equities analysts anticipate that Alcoa Inc. will post $0.35 EPS for the current year.
In related news, EVP Olivier M. Jarrault sold 12,810 shares of the firm’s stock in a transaction on Monday, April 25th. The stock was sold at an average price of $10.23, for a total transaction of $131,046.30. Following the completion of the transaction, the executive vice president now directly owns 352,889 shares of the company’s stock, valued at approximately $3,610,054.47. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ulrich Schmidt bought 5,000 shares of the stock in a transaction that occurred on Tuesday, April 26th. The shares were bought at an average cost of $10.25 per share, with a total value of $51,250.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at $51,250. The disclosure for this purchase can be found here.
Other hedge funds and institutional investors recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Alcoa by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 110,978,248 shares of the company’s stock valued at $1,095,356,000 after buying an additional 3,474,713 shares in the last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Alcoa by 635.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 3,124,725 shares of the company’s stock valued at $30,841,000 after buying an additional 2,700,000 shares in the last quarter. Zweig DiMenna Associates LLC bought a new position in shares of Alcoa during the fourth quarter valued at about $18,753,000. GAM Holding AG raised its position in shares of Alcoa by 41.4% in the fourth quarter. GAM Holding AG now owns 3,842,503 shares of the company’s stock valued at $37,891,000 after buying an additional 1,125,067 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of Alcoa by 25.0% in the fourth quarter. OppenheimerFunds Inc. now owns 4,815,143 shares of the company’s stock valued at $47,538,000 after buying an additional 962,303 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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